https://wattclarity.com.au/articles/2024/08/05aug-morning-volatility/ unlucky for QLD this morning with pricing not spiking like it had in other regions. Volatility experienced across the NEM this morning really does highlight how a dependance on renewables is a very scary approach... with 7/44 coal units offline it was over to the renewables to pull their weight and unfortunately, the weather (being an uncontrolled variable) didn't permit so on a day where demand was relatively not that high, spot prices still went bananas...
While this is a net win for the QPME business, it is a bit daunting for what future energy costs could look like when the grid is mostly renewables. The contrary can be said, ie when weather patterns strongly enable for renewables to shine, but the issue is the uncontrolled variable aspect.
Associated News, page-3378
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