Each year, CSIRO and the Australian Energy Market Operator (AEMO) work with a range of industry stakeholders to give an updated estimate of the cost to generate electricity for new power plants in Australia, through their GenCost report.

This year, the report — which is now open for public consultation — was improved by using a more accurate system for calculating the levelised cost of energy (LCOE, a metric to compare the cost of electricity generation technology).

CSIRO Chief Energy Economist Paul Graham said the new metric added extra insight to this year's report.

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