I have been looking at average historical spot prices for electricity and I haven't been able to find an instance where it has surpassed $2,000 for an entire day (there was a $1,600 here and there).
NSW is currently at averaging $3,800 for today, would have to be a NEM record.
I don't think this is a good outcome for the transition and I would say as a society we have collectively underinvested in this critical infrastructure (when electricity was cheap, were we all willing to set aside $XX a bill for the future?, Yeah-nah we just wanted the good times to keep rolling and took this critical infrastructure for granted).
With water, its much easier to see when you have a drought and for it to spur action.
Without cheap/reliable electricity, the competitiveness of the entire nation is at risk.
Extremists on either side of the debate need to see themselves out and let the adults enact a pragmatic action plan to accelerate capacity asap (hint: it will include all forms of tech available today).
AGL Price at posting:
$10.13 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)