Stronger winds and heavier rainfall have boosted renewables and pummelled coal to its lowest share of the east-coast grid on record for the past two months.
and heavier rainfall in eastern Australia have boosted renewable energy generation and pummelled coal to its lowest share of the grid on record for this time of the year.
The shift has also led to big falls in wholesale power prices, said Schneider Electric senior director Lisa Zembrodt, who advises some of Australia’s biggest corporate energy users. Since the start of September, improved output from cheaper-to-run“We are really seeing what we would expect to see as more renewables move into a grid – the fossil fuels get squeezed out,” Zembrodt said.
However, wholesale prices started retreating in September, according to the Australian Energy Market Operator , averaging $46 a megawatt-hour for the month and $50 a megawatt-hour in October.If sustained, the declines could help lower the risk of electricity bills rising sharply next year. Regulators take average wholesale prices into account in May when they reset each state’s annual default market offers – the maximum that retailers can charge customers who do not take up special deals.
Continued growth in renewable energy output will also put more pressure on coal, Zembrodt said, referring to newly connected wind farms in Queensland and Victoria that are now in their final stages of testing before delivering power to the grid.
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Renewable energy is roaring back, crushing coal to historic lowsStronger winds and heavier rainfall have boosted renewables and pummelled coal to its lowest share of the east-coast grid on record for the past two months.
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