Record-breaking investment in large-scale solar and wind energy generation has helped to slash electricity prices for standing offer customers in NSW, Queensland and SA.
UTS study finds increase in wind power is lowering electricity prices, but also leading to higher price volatility.
Energy market analysts warn that the ‘only way is up’ for electricity prices, as Covid-19 will have a temporary role in pushing prices down.
Electricity prices fall to five year low, pushed down by record high wind and solar, but still Angus Taylor advocates for a gas-led recovery.
Canberrans set to enjoy a cut to their electricity prices, after completing the transition to 100 per cent renewable electricity.
Energy minister Angus Taylor said “too much” wind and solar would push up prices. Experience, and new modelling, shows the opposite is true.
ACT households expected to enjoy falls in electricity prices thanks to renewables, while consumers say electricity bills and tariffs still too complicated.
Slump in renewables investment could cut short electricity price declines – and potentially send them back in the opposite direction – under current federal policy settings.
Latest electricity price predictions from AEMC sees wind, solar and storage driving massive reductions in electricity prices over next three years.
Renewable energy is growing rapidly, but the futures market in particular is yet to take into account the big pipeline of wind and solar about to join the grid.