Another record for Australian wind power, as gas generation plunges

Wind energy generation on Australia’s National Electricity Market achieved a new record in July, generating 1,067GWh for the month.

The new high, recorded in the latest quarterly report from Green Energy Markets, was mirrored by a new low for gas-fired generation, at 1,487GWh for the month; the lowest monthly level for more than two and a half years.

The report says that average wind energy capacity factor in July increased to 38.7 per cent (for pre 2013 plants) and 39.9 per cent including all wind farms.

The LGC price remained fairly stable over the month, closing out July at $52.00. It traded as high as $54.00 on 5 August.

Green Energy Markets says it expects another 0.7 million LGCs are yet to be created for the 2014 generation year, most of which will be for
baseline hydro generators, mainly from Hydro Tasmania.

The report estimates that 16.6 million LGCs will be created for 2015 generation year.