The truth about power prices and generation – big sticks don’t work but renewables do – » The Australian Independent Media Network

A few days before he was rolled from the top job, Malcolm Turnbull said “We will not hesitate to use a big stick, as we did with gas, to make sure the big companies do the right thing by you, their customers.”

Well the latest quarterly update from the AEMO shows just how effective that “big stick” was with the gas companies.

Wholesale gas prices increased across all markets compared to Q3 2017 despite a year-on-year reduction in demand (largely due to reduced gas-powered generation (GPG) demand). Average quarterly gas prices in the Declared Wholesale Gas Market (DWGM) in Victoria and Brisbane’s Short-Term Trading Market (STTM) were the second highest on record.

And it doesn’t look like getting better any time soon.

via The truth about power prices and generation – big sticks don’t work but renewables do – » The Australian Independent Media Network

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.