Energy market regulator warns of risks to supply

"This year's report highlights that Australia's energy transition is happening at pace," the statement from the Australian Energy Market Operator says.

"Our old coal-fired power stations are retiring, at the same time as demand for electricity is increasing.

"Without urgent and sustained investment in new sources of electricity, and the transmission needed to connect it to consumers, there are significant risks to reliability.

"Planned generation, storage and transmission, supported by government programs, must be delivered urgently, with any delay likely to put reliability at risk over the coming decade," the statement said.