Who is watching electricity prices?

As our useless MP’s decamp from Canberra for their long and very well payed holidays I wonder if anybody is riding shotgun on electricity prices. I am thinking AEMO wholesale price which 12 months ago jumped ~50-100% over Christmas-New Year. Here are the colossal and sneaky price increases by State over a 20 day period 22 Dec 16 to 10 Jan 17.

Our retail power bills are already exploding. Our PM had a good result talking down gas prices which has helped moderate pressure on electricity prices. I hope the PM makes some calls to electricity generators. Checkout the new improved NemWatch

6 thoughts on “Who is watching electricity prices?”

  1. Right now all 5 States AEMO prices $100+. Nothing in the Battery and it is not charging. But SA is running diesel.

  2. Turnbull’s stern words have had some impact on gas prices where he has some clout via export controls. But unfortunately when it comes to electricity he still believes in the tooth fairy, the fiction that affordable, reliable power can be provided by wind and solar. So until Turnbull’s magic pudding comes along expect electricity to continue to become both more expensive and less reliable.

  3. Well Tom recent monthly gas data suggests that the PM’s stern words to gas companies are not carrying the weight they did initially. My chart shows how in the last 2 months gas prices have firmed. (I do not have the same data for Vic.) This has most effect in South Australia which is most dependent on gas. Qld and NSW being more dependent on coal. Chart AEMO electricity monthly prices 5 States show the big exporter Qld is cheapest now with Vic, SA, Tas forming the expensive band and NSW in the middle.

  4. The SA Pelican Point natural gas (methane CH4) generator is now being used as the main base load power supply for SA. Unremarkable because it was quite predictable.

    Chagrin is caused by the fact that burning CH4 generates about the same CO2 emissions as a modern black coal HELE plant (efficiencies are now close to equivalence)- but at 3x the cost. Then the diesel plants installed for SA Govt use come online; 5-6x the cost of a HELE plant with no drop in CO2 emissions as Weatherdill pays $60m for a parallel battery array that will provide about 2% of required base load for all of 4 minutes in extremis.

    Oh well … there’s always a long weekend.

Leave a Reply

Your email address will not be published. Required fields are marked *