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The Spot Price fell to $0 in all regions on 21/07/ (Read 360 times)
minarchist
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The Spot Price fell to $0 in all regions on 21/07/
Jul 31st, 2019 at 10:09am
 
On the 21st of July at 1.15pm, the NEM 5 minute Spot Price fell to $0/MWh. This was due to high energy outputs from renewable sources. This will become a more common occurrence as more solar and wind power plants are commissioned in the next few years. The following Financial Review article shows the event and goes into more detail the effect high renewable penetration will have on Spot Prices:

https://www.afr.com/companies/energy/why-electricity-spot-prices-are-hitting-zer...
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People accuse Capitalism of being a "dog eat dog" system, yet it was the Communists who ate each other when they were starving!
 
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juliar
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Re: The Spot Price fell to $0 in all regions on 21/07/
Reply #1 - Jul 31st, 2019 at 5:01pm
 
Can't see your ref.

But the fundamental problem with renewable stuff remains - unreliability.

While occasionally it will generate quite a bit then on other days it generates hardly anything.

While the cost of installing renewable stuff falls the cost of power dramatically increases - just ask Sth Aust long suffering residents.

So a steady reliable power supply is ALSO required to fill in the MANY gaps in renewable generated energy which effectively DOUBLES the cost of generating electricity. See Sth Aust.

Also private operates game the system offering power during lean times at inflated prices.

Storage doesn't exist which is big enough to actually work for more than a few minutes. Sth Aust's tiny Tesla battery is a white elephant.

The ONLY way of improving the reliability of renewable stuff particularly wind is to duplicate and triplicate wind farms but then the suitable treeless land runs out. so renewable wind hits a dead end.

Industry needs steady reliable constant voltage and frequency supply 24/7 and renewables CANNOT supply this.

The Greenies "solution" is to CLOSE DOWN ALL INDUSTRY!!!!!!!

Now even tree hugger Bob Brown has spoken up about the environmental EVIL of wind farms and blocked a new one in Tassie - what abject hypocrisy!!!!!!

But there is some hope for the otherwise useless renewables - to generate HYDROGEN the energy of the future as the erratic wobbly output of the renewables is quite OK in the electrolysers used to split water into Hydrogen and Oxygen.

The current Lib Govt recognizes the futility of renewables and is preparing to upgrade the existing coal power stations to supply CHEAP power for people and industry.

Reality has arrived.
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