Competitive market to build NSW renewables drives energy price floors to record lows

AEMO Services estimates the projects will avert as much as 11m tonnes of carbon dioxide emissions over a 20-year period

• Follow our Australia news live blog for the latest updates
• Get our morning and afternoon news emails, free app or daily news podcast

Renewable energy companies have promised to build and operate projects for record low minimum power prices in a New South Wales government tender that shows market interest is high.

The results of NSW’s first renewable energy tender were released on Monday, kicking off a series of auctions to be held over the next decade as the state transitions from coal-fired power generation.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup