https://reneweconomy.com.au/dramatic-lift-in-market-price-cap-to-...

https://reneweconomy.com.au/dramatic-lift-in-market-price-cap-to-encourage-batteries-and-gas-to-fill-coal-gap/
Australia’s energy regulators have proposed a dramatic increase in the price cap of Australia’s main electricity market in the hope that it can encourage big batteries and gas peaking plants to fill the gap created by the exit of the country’s ageing coal fleet.
The proposal from the Australian Energy Market Commission suggests that the wholesale market price cap should be jacked up from $16,600 a megawatt hour (MWh) now to $22,800/MWh by July 1, 2027.
The proposal is designed specifically to ensure that there is enough capacity to deal with those rare events when there may be not enough generation to meet a surge in demand – perhaps due to a heatwave when consumers turn their air conditioners on all at the same time.
The AEMC says its modelling has shown that price settings in the wholesale electricity market are currently set too low to ensure there is enough generation and battery storage to keep the system reliable as it transitions.
“As we get off coal, we have to make sure we have enough flexible generation assets,” AEMC chair Anna Collyer told Renew Economy....

Good news for QPME & the Townsville Power Station...