Energy regulator says southern areas of Australia will remain ‘susceptible to demand and supply shocks’ for the rest of winter
Coal-fired power stations such as Loy Yang helped contribute to an increase in greenhouse gas emissions from the energy sector, according to Aemo.Coal-fired power stations such as Loy Yang helped contribute to an increase in greenhouse gas emissions from the energy sector, according to Aemo.
Victoria’s volume-weighted average price rose 99%, or $69 per megawatt-hour, in the June quarter compared with the previous three months. Tasmania’s rose 97%, or $67/MWh, and South Australia’s by 78% or $65/MWh.from some big generators – contributing $55/MWh to that increase, the AER said. Queensland bucked the trend with wholesale prices dropping about one-fifth, or $29/MWh, thanks in part to milder weather.
Disruptions at Victoria’s Longford gas processing plant reduced supplies and contributed to a sharp reduction of storage levels at the state’s Iona site. At the end of June, Iona had 14.8 petajoules of gas. The AER said it would suffer “pressure constraints” were levels to fall below about 6 petajoules. Prices would also rise on peak demand days.
Since the June quarter, the return of milder temperatures and windier weather has helped reduce the need to burn gas for electricity and also lowered wholesale power prices. Batteries, meanwhile, played a bigger role. Such storage had the largest increase in price-setting frequency out of all generation types, averaging 23% in some evening dispatch periods for the quarter up from a peak of just 7% a year earlier, Aemo said.
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