Wednesday, November 29, 2017

Spot Electricity In Australia -- $14,000/MWh -- Reader -- November 29, 2017 -- Elon Musk Batteries NOT Working?

Australia has become the poster child for idiotic green energy policies.

I link electricity demand / prices for New England, California (demand, price), and Australia at my "Data Links" page.

Generally, it appears in the US, one can expect (today) about $20 - $50/MWh spot electricity.

A reader watching the Australian situation writes (just a few minutes ago):
I've been keeping an eye on the Australia electricity situation as a "canary in the coal mine" scenario with their advanced adoption of sun/wind generation. 
Well, in a few hours, as per the AEMO website, spot electricity will cost $14,000 MWh for the entire afternoon in Victoria and South Australia
In addition, Level 2 notice was sent out by the AEMO asking (begging?) for restricted consumption and every available generating source to fire up. 
The weather today is to be hot - 94 degrees - and cloudy.
Final note ... future contracts for summer quarter for SA and Vic are $173 and $149 per MWh
There is no way a modern society can function at those prices.
That is no exaggeration. Look at these two screen shots: one for South Australia and one for Victoria. Right now, in South Australia, the spot price is $188/MWh and in a few hours the spot price will be $13,000/MWh:

Similar graphic for Victoria:

I thought Elon Musk has solved that problem by placing the world's largest battery in South Australia. He won the bet by getting the battery built; he didn't say anything about solving the energy problem for South Australia.

Natural Gas
Meanwhile, a reader provided this map -- it's going to be cold over most of the US next week. We'll see how natural gas holds up.  

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