A big increase in wholesale power prices here in AUS which would have moved to retail prices 1 May has been deferred until after the Election. Cost declines of over 8% over last two years due to Solar and Wind input are about to be reversed by the huge international demand for Black Coal. Oddly the interconnectors not allowing Vic and Tassies cheaper power to be moved north is one of the reason why NSW and QLD are taking the price "At the start of the year, the future wholesale price was $81 a megawatt hour for the 2022 calendar year in NSW and $70 in Queensland. The current price is $132 and $114.Grattan Institute energy program director Tony Wood said government policy had not influenced the fall in power prices in recent years, which had been lowered by an influx of private investment in renewables and a drop in power demand during COVID. He said prices had been driven up more recently by domestic supply disruptions and the global market for fossil fuels.“The trick for the government is if they’re going to take credit for the lower prices, then how can they avoid taking blame for the higher prices?” he said." SMH quote
Politics and economics regardless we will all see power price inflation shortly after the election regardless of it.
