Old energy rules were all about locking in cheap base-load power, and supplementing it with more expensive capacity, generally gas, to meet the peaks. The new way is about putting in super-cheap, “base-cost” renewable power at the heart of the world’s grids.
Category: Energy Markets
Origin Energy should consider a bid for NSW network operator Endeavour Energy and/or make a serious push into the Queensland renewable energy market, with the aim of developing Australia’s first large scale “renewables energy on demand” business.
The bailout of the Portland aluminium smelter is arguably the dumbest thing the normally sensible Andrews Labor state Government will have committed to. And it will bear direct subsidy and power costs that amount to more than $500,000 per direct employee, per year.
Worldwide spending on clean energy fell 18 percent from 2015’s record high. However, even as spending ebbs, the amount of wind and solar connected to power grids around the world is still climbing.
After two disastrous years, investment in large scale renewable energy finally rebounded in Australia in 2016, and actually went against the global trend with a 50 per cent increase.
Spot electricity prices averaged $447/MWh for the week in Queensland, and surged above $13,000 on a couple of occasions. Of course, there is no newspaper article when this happens because, since there is basically only rooftop PV in the state in the way of renewables, there is no convenient scapegoat.
New York Governor Andrew Cuomo promises declining carbon emissions even as the state closes the Indian Point nuclear power plant.
The year that was: Donald Trump, soaring temperatures, mass-market EVs, and price parity – even in NSW – for solar and storage.