"Ten years ago, if a heatwave as intense as last week's record-breaker had hit the east coast, Australia's power supply may well have buckled. But this time, the system largely operated as we needed, despite some outages. On Australia's main grid last quarter, renewables and energy storage contributed more than 50% of supplied electricity for the first time, while wholesale power prices were more than 40% lower than a year earlier."
"Last quarter, wind generation was up almost 30%, grid solar 15% and grid-scale batteries almost tripled their output. Gas generation fell 27% to its lowest level for a quarter century, while coal fell 4.6% to its lowest quarterly level ever. Gas has long been the most expensive way to produce power. Gas peaking plants tend to fire up only when supply struggles to meet demand and power prices soar. Less demand for gas has flowed through to lower wholesale prices."
Renewables and energy storage supplied over 50% of electricity on Australia's main grid last quarter, while wholesale power prices fell more than 40% year-on-year. Wind generation rose almost 30%, grid solar increased 15%, and grid-scale battery output almost tripled. Gas generation declined 27% to a 25-year low and coal generation fell 4.6% to its lowest quarterly level. Reduced gas use, especially from expensive peaking plants, has contributed to lower wholesale prices. Wholesale costs make up roughly 40% of retail bills and retailers typically change prices annually, so retail relief may begin by mid-2026 if trends persist.
Read at www.theguardian.com
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