![]() ![]() That leads all the new investment in the grid W&S plus all the transmission lines, synchronous condensers, batteries, price gaming super computers, etc stranded assets. As rooftop owners realise this, they will accept their sunk costs in panels and just add batteries. Rooftops are close to saturation in SA and WA with both needing to introduce measures to force rooftop PV off line to retain stability. The one good snippet of data in the Q4 report was that rooftops had the biggest gain in market share from 11.1% to 12.9%. It is simplistic thinking like this that has Australia in the mess it finds itself with electricity. Yes, but retail price incorporates wholesale price, and that is the component that depends on source, wind vs FF etc. from looking at the full picture, wind and solar demonstrably drive up the cost of electricity.īut then, everyone who reads outside the controlled media already knew that. ![]() Nevertheless, the implication is that the countries that do use a higher percentage of non-renewables energy (which must be mostly coal, gas, nuclear and some hydro) do tend to have lower electricity prices.Ĭonclusion: From all of the above, ie. That’s not a viable option for fuel-importing countries. ![]() A lot of the countries with very low electricity prices are oil/gas producing countries which keep household electricity prices low through subsidies.Unlike South Australia, for example, which often can’t even give it away. Maybe using Norway’s hydro as a battery, although expensive, helps to use more of the wind generation. Denmark has by far the most renewable energy (mostly wind), in percentage terms, yet is only the highest-cost country by a narrow margin.Greece (GRC) has done much better (I don’t know why – work looking at?) Electricity prices in Denmark (DNK) and Germany (DEU) and some other countries have nearly doubled in the last five years.There’s definitely a visible correlation, with higher wind+solar relating to higher electricity prices.I expect that everyone here has seen this chart from ClimateDepot:Ī few things stand out in the updated chart: Let me re-phrase that last sentence to make it a bit clearer: It looks like wind and solar are an absolute disaster. It really doesn’t look like wind or solar bring prices down. So, wind and solar generation grew strongly, their penetration hit a record high, wind generation was at a Q4 record high, yet wind usage sank in percentage terms, demand sank to record lows, and prices hit a Q4 record high. The instantaneous penetration of renewable energy for the NEM as a proportion of total generation reached 68.7% on 28 October 2022, exceeding the previous record of 64.1% (set on 22 September 2022).Queensland and New South Wales saw large increases in grid-scale solar, setting daytime prices more frequently than in the same quarter last year. Although the NEM’s wind fleet recorded its lowest recent quarterly utilisation rate, Q4 2022 was the highest wind generation for any Q4 on record. Output from wind and grid-scale solar grew strongly as new facilities were connected and commissioned.New minimum operational demand records were set in Q4 … South Australia, Victoria and New South Wales all recorded new minimums for any quarter since NEM start, and Queensland its lowest Q4 operational demand since 2002.However, prices have eased from extreme levels seen early in the year. Wholesale spot prices averaged $93 per megawatt-hour (MWh) across all National Electricity Market (NEM) regions, with Queensland, New South Wales and Tasmania at Q4 record highs.I started by looking at the latest report from AEMO (Australian Energy Market Operator). In order to see the full picture, you have to look at … the full picture. In other words, negative electricity prices actually drive up the overall cost. Those costs will have to be recovered at some time or they will go out of business. In other words, they were struggling to find anyone to use the electricity even if paid to take it.Īs many have pointed out, negative electricity prices don’t mean that electricity is cheap, it just means that the generator has costs that are not being recovered. ![]() The South Australian electricity price was a very large negative number. The chart was a real time price shart, showing just the prices at that particular point in time, andĢ. The presenter of the chart claimed that this proved how renewables drove down the cost of electricity.ġ. In a recent conversation, I was shown a chart of Australia’s wholesale electricity prices, by state, in which South Australia had by far the lowest prices of all the states. ![]()
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