Top Posts
Report: Nigeria, others may lose $300 billion, 49m...
Pope Leo hits out at climate change critics
Nigeria insurers prepare to global delegates on climate...
Energy Dept. asks employees not to use words...
Protesters seek $5tr payment from fossil fuel companies
Borno govt, NGOs demand funding on climate change...
Lagos rolls two-year flood plan to integrate lakes,...
UN official says climate change displaces up to...
UN ends high-level week with calls for peace,...
Ahead of COP30 conference, new national climate plans...
EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World
World

Energy prices soar after volatile wind saw heavier gas, hydro and battery use, Australian regulator says

by admineconai October 19, 2024
written by admineconai October 19, 2024
408

The Australian Energy Regulator has said in its quarterly report that wholesale power prices across much of eastern Australia were sharply higher in the September quarter from a year earlier because of increased reliance on gas, hydro and batteries.

Average prices ranged from $114/megawatt-hour in Queensland to $201/MWh in South Australia. The biggest year-on-year increases were in Tasmania, with prices up 290%, Victoria’s increasing 114% and SA’s 76% higher, according to the regulator.

Compared with the June quarter, though, the changes were mixed and less abrupt. New South Wales saw a 25% reduction, with Victoria’s down 9% and Tasmania’s 12%. SA posted a 35% quarter-on-quarter rise and Queensland’s edged 5% higher.

Wholesale power prices make up about a third of a typical retail bill. Many households will probably see lower bills for the September quarter, in part because of big rebates paid in July in Queensland and Western Australia, and the start of four quarterly payments from the commonwealth of $75.

Read also: Cuba suffers second power blackout in two days

The jump in year-on-year wholesale power prices was driven in part by more volatile supplies of wind energy that prompted more use of expensive gas, hydro and battery-sourced electricity. Average wind generation was 52% higher than the previous quarter and 21% more than in the September quarter of 2023, but more variable.

Gas set the price significantly in the national electricity market, ranging from $108/MWh more in SA to $159/MWh more in NSW. “While not at record levels, Q3 prices were one of the highest,” the AER said.

Gas supply shortages, particularly in Victoria, prompted the Australian Energy Market Operator to issue a “system risk” or “threat notice” on 19 June. That notice was revoked on 23 August as milder weather assisted the recovery of storage levels.

There were also more unplanned outages, particularly in SA, a state that accounted for half of the 54 periods when wholesale prices exceeded $5,000/MWh for 30-minute intervals. These hoisted average prices by $77/MWh in SA alone, while the high-priced periods also hiked prices in NSW and Victoria by $28-29/MWh.

Story was adapted from the Guardian.

0 comment 0 FacebookTwitterPinterestEmail
admineconai

previous post
Cuba suffers second power blackout in two days
next post
Research shows smoke pollution from wildfires may be killing over 12,000 people yearly

Related Posts

Pope Leo hits out at climate change critics

October 3, 2025

Protesters seek $5tr payment from fossil fuel companies

October 1, 2025

UN official says climate change displaces up to...

September 30, 2025

UN ends high-level week with calls for peace,...

September 30, 2025

China announces plans to cut greenhouse gas emissions...

September 25, 2025

China locks down as Super Typhoon Ragasa nears...

September 24, 2025

Trump says climate change ‘greatest con Job in...

September 24, 2025

PERILS sets final industry loss estimate for 2024...

September 22, 2025

Guterres says 1.5C climate warming goal could fail

September 22, 2025

Australia sets 62-70% GHG emission reduction target by...

September 22, 2025

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

  • Facebook
  • Twitter
  • Instagram
  • Linkedin
  • Bloglovin
  • Vimeo

@2021 - All Right Reserved. Designed and Developed by Eco-Nai+

EcoNai Newsroom
  • Newsround
  • Nigeria
  • Africa
  • World