From 'The Australian' Thursday 20 July 2023:Power prices rose...

From 'The Australian' Thursday 20 July 2023:

Power prices rose after AGL Energy shut down NSW’s Liddell coal power station in April, exacerbating fears over a jump in household bills as the fossil fuel exits the power grid.

The Australian Energy Regulator said the cost of producing electricity during the three months to June 30 rose across nearly all of the national electricity market.

But NSW suffered the biggest underpinned increases in the cost of wholesale electricity during the second quarter, which the watchdog attributed to the closure of Liddell.

Prices in NSW topped $148 per megawatt hour, just ahead of Queensland and South Australia, followed by Victoria, while Tasmania averaged only $65 per megawatt hour.

NSW Energy Minister Penny Sharpe in April had pledged the closure of the plant would not have any immediate impact on prices, despite it meeting up to 10 per cent of power demand in the state last year.

“While the exit of the Liddell Power Station in April contributed to higher prices in the quarter, it was partly offset by around 1100MW of new capacity in the form of solar, wind and batteries for the same period,” the AER said. “Had Liddell’s capacity still been available, prices would have been lower..."