SXY 0.00% $4.60 senex energy limited

JCoure, you are powerfully misinformed, and exposing your...

  1. 832 Posts.
    lightbulb Created with Sketch. 74
    JCoure, you are powerfully misinformed, and exposing your ignorance for all to see.
    Dig a little deeper and you will see the SA blackout was a grid failure, supply sources were irrelevant. You could add a dozen coal or gas plants and the blackout would still have occurred.
    The recent power price spikes were because:
    - the SA/VIC backbone transmission cable was degraded for maintenance, limiting inter-state power imports to supplement supply
    - a costly coal plant had closed due to inability to turn a profit
    - it wasn't very windy within the SA generation region
    - a gas 'peak' generator was unexpectedly mothballed as the ongoing power cost decrease due to wind made in uneconomic.
    - $9000/MWh was available to all power supply companies as it was a spot market price. Any gas generator could have sold at that price.
    - It suits those with financial interests in costly legacy power generation assets to portray market failures as "due to renewables" but the reality is wind power is delivering cheaper, pollution free power to SA routinely.
    - SXY gas is an important fuel source, and offers substantial environmental benefits over coal, and with the ability of gas turbines to handle peak loads (e.g. $9000/MWh price spikes) it supplements renewables.
 
watchlist Created with Sketch. Add SXY (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.