the real reason"“The extreme lows in renewable generation,...

the real reason

"“The extreme lows in renewable generation, particularly wind yields, have meant gas-powered generation has picked up a significantly larger load to keep the lights on and ensure electric homes can remain heated,” he said."

Victoria has for much of 2024 seen reduced wind supplies. amid unseasonable weather.


The unreliables are proving to be just that, "unreliable"!

You cannot have enough battery storage and pumped hydro to make up for extended wind droughts, you have to back up the renewables 100% with peaking gas generators.
In effect you are building two generation systems along with all the storage and thousands of kilometers of transmission lines.
That is why in practice the "cheapest form of energy" ends up being the most expensive.