- JoNova - http://joannenova.com.au -

Warning: Money on fire in Vic and SA electricity prices at $14,000 per MWh

Posted By Jo Nova On January 24, 2019 @ 5:58 pm In Cost,Electricity,Energy,Global Warming | Comments Disabled

Prices are “off the chart” in Vic and SA right now and likely for the next few hours. Factories will be closing. Diesel generators will be running, but only in South Australia and Victoria. At these kinds of prices tens of millions of dollars could be going up in smoke every hour. By the end of today the bill could come to more than a hundred million dollars.

In QLD and NSW where there are old or evil coal fired plants the wholesale electricity costs are only $105/MWh.

Victoria

AEMO, Prices, Jan 24, 2019, Graph. Australia.

South Australia

AEMO, Prices, Jan 24, 2019, Graph. Australia.

The national electricity market (or at least the Eastern half and 90% of the population).

AEMO, Prices, Jan 24, 2019, Graph. Australia.

 

Today when we need it, wind power on the NEM is running at about 20% of total capacity. Four out of five windfarms are not working.

 

Wind farm, capacity, production, jan 24, 2019. Graph.

 

¬†UPDATE: LOR3 (highest level warning) issued in Victoria but resolved at 8pm. In SA the diesel jet engines have been switched on for the first time as emergency reserve. We didn’t used to need to buy expensive machinery so it could sit around for 18 months before it was needed.

 

h/t Ian B, LightningCamel, George, David B.

MWh typo fixed, thanks to Xavier

VN:F [1.9.22_1171]
Rating: 9.5/10 (76 votes cast)

Article printed from JoNova: http://joannenova.com.au

URL to article: http://joannenova.com.au/2019/01/warning-money-on-fire-in-vic-and-sa-electricity-prices-at-14000-per-mw/

Copyright © 2008 JoNova. All rights reserved.