For some strange reason, wind ‘powered’ Victoria and South Australia suffer wholesale prices around double what’s paid in coal-fired Queensland and NSW?
Could it be that massively subsidised, intermittent and unreliable wind power has wrecked power markets in Daniel Andrew’s Victoria and Jay Weatherill’s SA?
The graphic above appeared in The Australian, a few weeks ago. It is poorly labelled, as one recent follower pointed out.
The word ‘spot’ in the line ‘Average wholesale spot price’ is a misnomer: the spot price relates to the spot market which, when wind power output collapses, often hits the regulated market cap of $14,000 per MWh; the wholesale price relates to the wholesale market, which is the price retailers pay, in aggregate