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Wholesale electricity prices up already (Read 2389 times)
Bam
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Wholesale electricity prices up already
May 20th, 2019 at 9:31pm
 
Well that didn't take long.

Morrison win sparks sharp lift in wholesale electricity prices
Quote:
Wholesale electricity prices shot up on Monday after the Coalition's surprise election sparked renewed speculation the government would push on with its "big stick' energy policies.

The wholesale electricity price is what generators charge retailers and it accounts for about a third of household power bills, and even more for industrial energy users.

The expected future wholesale price rose 8 per cent for NSW and shot up about 7 per cent for Victoria on Monday.

"The uncertainty around the Coalition’s energy policy is undoubtedly the driver of this price spike," University of Melbourne energy expert Dylan McConnell said.



This is just the start.

Get ready for more PAIN under this government!!
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.JaSin.
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Re: Wholesale electricity prices up already
Reply #1 - May 20th, 2019 at 9:33pm
 
After every Election, everything uses 'either' Party as an excuse to inflate their prices.

Australia - the over indulgent over-priced Rip Off Nation.  Roll Eyes
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lee
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Re: Wholesale electricity prices up already
Reply #2 - May 20th, 2019 at 9:37pm
 
This can't have been from those ethical renewables power generators, can it?

According to the meme renewables are now cheaper, and more reliable. Therefore the fossil fuelled ones just have to be price takers not price makers.
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Beware of cheap imitations......

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Re: Wholesale electricity prices up already
Reply #3 - May 20th, 2019 at 10:15pm
 
.....a few coal fired power stations would remedy that
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Laugh till you cry
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Re: Wholesale electricity prices up already
Reply #4 - May 20th, 2019 at 11:58pm
 
Why is this a surprise?

Energy companies are monopolies and they have shareholders who expect dividends and who expect 10% annual growth in profits.

The only way the growth in profits can be achieved is by raising prices.

Electricity demand is rising faster than supply which means prices must rise to constrain demand.

In the absence of competition, a fair price is what the market will bear as determined by the economists employed by the electricity generating companies.
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Please don't thank me. Effusive fawning and obeisance of disciples, mendicants, and foot-kissers embarrass me.
 
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Ye Grappler
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Re: Wholesale electricity prices up already
Reply #5 - May 21st, 2019 at 1:14am
 
lee wrote on May 20th, 2019 at 9:37pm:
This can't have been from those ethical renewables power generators, can it?

According to the meme renewables are now cheaper, and more reliable. Therefore the fossil fuelled ones just have to be price takers not price makers.


I doubt a long-term project such as renewable energy would cause such a fluctuation in one day   Roll Eyes  Roll Eyes  Roll Eyes

What's in the water you drink?
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Ye Grappler
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Re: Wholesale electricity prices up already
Reply #6 - May 21st, 2019 at 1:15am
 
Swagman wrote on May 20th, 2019 at 10:15pm:
.....a few coal fired power stations would remedy that


Grin  Grin  Grin  Grin  Grin  Grin  Grin  Grin  Grin
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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Ye Grappler
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Re: Wholesale electricity prices up already
Reply #7 - May 21st, 2019 at 1:19am
 
Laugh till you cry wrote on May 20th, 2019 at 11:58pm:
Why is this a surprise?

Energy companies are monopolies and they have shareholders who expect dividends and who expect 10% annual growth in profits.

The only way the growth in profits can be achieved is by raising prices.

Electricity demand is rising faster than supply which means prices must rise to constrain demand.

In the absence of competition, a fair price is what the market will bear as determined by the economists employed by the electricity generating companies.


I'm getting a big system installed on the new seaside home (for $3000 - gotta have the inside running) - and I am moving towards a total stand-alone... wind generator on the roof and batteries...

No value in selling $180 a month worth of power back into the grid and getting back $57 (I calculated)... and then paying the bastards $100+ a month for being connected so I can give them a free ride... I'm paying them $43+ a month to give them $180 worth of power!

Far Chem...

Get a neighbourhood conglomerate together, all chip in for a big system with storage - and go alone...
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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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scurt
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Re: Wholesale electricity prices up already
Reply #8 - May 21st, 2019 at 9:18am
 
That's great news for my EPW shares!
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juliar
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Re: Wholesale electricity prices up already
Reply #9 - May 21st, 2019 at 9:31am
 
Holy Moses give them a chance as they can't build 5 HELE clean coal power stations overnight.

The LIbs have already cracked down on the private power companies gaming the market by only offering power at inflated prices when demand is high.

ScoMo will make great strides when he dramatically reduces the subsidies being wasted on the renewable rubbish which only works about 3 or 4 days a week.

Coal is cheap and has been for the last 100 years or so.

Renewable rubbish is EXPENSIVE and UNRELIABLE and a waste of money and unprofitable without the govt subsidy.

The stark warning can be seen in Sth Aust which is TOTALLY dependent on the umbilical link to the Victorian coal fields plus hundreds of diesel generators and some gas generators.

The ludicrous tiny TESLA battery in SA is as useless as shoes on a snake as it can only supply a tiny amount of energy.
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Bojack Horseman
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Re: Wholesale electricity prices up already
Reply #10 - May 21st, 2019 at 9:36am
 
Clearly unreliable which is why ACT is on track to be completely 100% renewable powered.
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In a time of universal deceit — telling the truth is a revolutionary act.

No evidence whatsoever it can be attributed to George Orwell or Eric Arthur Blair (in fact the same guy)
 
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juliar
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Re: Wholesale electricity prices up already
Reply #11 - May 21st, 2019 at 9:42am
 
BH a bit of armchair arm waving there.

Which coal power stations are they backed up by ? Or what happens when the wind stops and the sun is blocked ?
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macman
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Re: Wholesale electricity prices up already
Reply #12 - May 21st, 2019 at 9:49am
 
So righties, after campaigning for how long about labors policies will push up prices but coalition will take a 'big stick' to the power companies to keep prices down, what do we end up with. You can win an election but then you gotta keep your promises. Looking forward to the blowhard bringing out the 'big stick' and sorting out prices 'skyrocketing' way above inflation.
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juliar
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Re: Wholesale electricity prices up already
Reply #13 - May 21st, 2019 at 9:54am
 
The Big Mac with Coke and Fries is stumped and just cannot accept what happened. Yes Labor did really win.

Sth Aust with all their renewable rubbish has the highest power prices in Australia.

A caller on 2GB just said he has worked out the cost of Shorten's NBN Mark 2 his CLIMATE CHANGE SCAM - it cost the election.
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Re: Wholesale electricity prices up already
Reply #14 - May 21st, 2019 at 9:58am
 
juliar wrote on May 21st, 2019 at 9:54am:
A caller on 2GB just said he has worked out the cost of Shorten's NBN Mark 2 his CLIMATE CHANGE SCAM - it cost the election.




I'd argue the man is a genius, but you said he was a caller on 2GB, so no he's not a genius.
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In a time of universal deceit — telling the truth is a revolutionary act.

No evidence whatsoever it can be attributed to George Orwell or Eric Arthur Blair (in fact the same guy)
 
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