Maoneng joint venture has begun work on a 240MW/480MWh battery energy storage system project in Mornington Peninsula region of Victoria.

Australian energy provider MPower has been selected to deliver a grid-scale battery energy storage system in New South Wales that could save the local grid operator AU$1 million (US$0.78 million) a year in network upgrades.

Market conditions are “artificially” restricting energy storage batteries from “leveraging and maximising their multiple capabilities” a US trade group which includes utilities, technology and service providers and grid operators among its membership has argued.

Energy security is a growing concern for economies across the world with electricity outages currently costing economies billions of dollars annually, driving electricity prices up. The US experienced nearly 700 power outages caused by severe weather between 2003 and 2012, costing the country up to US$70 billion annually.