Way I see it, the more expensive gas gets, the higher wholesale electricity prices. Wholesale prices are set by the most expensive supply which is gas. I assume ifn has taken control already as I can see the plant has been quite active in the last few days taking advantage of high spot prices. AGL has a similar plant at Somerton and is building a similar but larger plant in Adelaide so there must be money to be made. Also, I believe if we have a few $14000 mwh periods in summer this thing will rake in the cash. I would much prefer batteries or pumped hyrdo but this was probably seen as an easy short term play.
IFN Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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