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Australia’s Electricity Markets On A Rollercoaster

“Electricity prices have gone up in the last year because of the closure of the Hazelwood and Northern coal plants, which have been squeezed by subsidised wind and solar. As a result, supply has tightened thus forcing up wholesale prices.

It is richly ironic of course that the aforesaid renewables have benefitted very nicely as a consequence.”

Excellent summary of Australia’s totally idiot man-made electricity disaster…

NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

h/t TomO

From ABC in Australia:

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Electricity prices are set to fall across the country over the next two years, offsetting this year’s price increase.

Key points:

  • Electricity prices will start to fall from mid-2018
  • Prices rose by 11 per cent this year
  • AEMC warns of instability and blackouts if new systems are not managed efficiently

The Australian Energy Market Commission said the price drop will happen as variable wind and solar generation comes online, which is paid for by the Government’s Renewable Energy Target.

Nationally, prices rose almost 11 per cent this year, but with the extra supply from wind and solar, the commission predicts that will be offset by a 12 per cent fall over the following two years.

The AEMC’s annual report on price trends provides an overall picture of factors driving electricity prices for households in each state and territory.

AEMC chairman John…

View original post 617 more words

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