Drop in wholesale power prices as renewable energy generation from wind and solar grows, AEMO finds
- thewilliamsmith
- Apr 28, 2023
- 1 min read
Surging renewable energy output has pushed fossil fuel-fired generation down to record low levels in Australia's biggest electricity grid, triggering another big fall in wholesale prices.
The Australian Energy Market Operator (AEMO), which runs the national electricity market covering the eastern states, said power prices had tumbled in the three months to the end of March.
Average prices were $83 a megawatt hour for the period, a 10.5 per cent decrease compared with the previous three months, and a whopping 62 per cent lower than the September quarter last year.
The findings were outlined in AEMO's latest quarterly report, which also showed the extraordinary growth of output from green energy sources such as wind and solar.
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