Snowy Hydro contracts 888 MW wind, solar to push down energy prices
The government-owned energy provider has signed eight wind and solar PPAs to cover the shortfall in its existing energy generating capacity and put downward pressure on wholesale energy prices. Snowy Hydro says it will be able to offer firm supply contracts at less than $70/MWh, which undercuts the current wholesale price of electricity.
Wholesale power price to halve thanks to renewables
The addition of 7,200 MW of large-scale renewable energy supply since the closure of coal-fired power plants in 2016 in expected to almost halve wholesale electricity price over the next four years, shows the latest analysis from Green Energy Markets.
AGL Energy profit jumps thanks to soaring power prices
Amid the intense discussion surrounding the National Energy Guarantee’s promise to cut power bills by $550 a year, Australia’s biggest power producer has reported its full year profit almost trebled, and its underlying profit rose by nearly a third.
Energy Security Board issues final NEG design details, urges immediate endorsement
On the back of its large-scale renewable boom, Australia has seen a drop in wholesale electricity prices and a downward emissions trajectory. So, the questions arises: what extra value can the hotly-contested National Energy Guarantee create for Australia’s electricity market beyond 2020? The Energy Security Board has had its final say on the issue.
