Electricity costs are climbing again after a stretch of cold weather coincided with a wind power drought, forcing expensive gas plants to fill the gap.
Electricity costs are climbing again across Australia’s eastern seaboard after a prolonged stretch of cold weather coincided with a wind power drought, forcing expensive gas-fired generators to meet peak demand.
A separate update from the Australian Energy Market Operator on Wednesday will declare that total electricity demand in the grid was the highest on record for the June quarter. In response, gas-powered generation – a fast-ramping but expensive source of electricity – surged 70 per cent compared to the prior quarter, and was 16 per cent higher than the same time last year. Black coal usage also increased due to improved availability across Queensland’s coal power fleet.Australian Energy Regulator board member Jarrod Ball said seasonal weather patterns and tight market conditions had contributed to the higher prices during the quarter.
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