Australia’s renewable energy sector hit a record last October when it hit 27.7% of electricity in the national electricity market coming from renewables, according to the latest Cedex report as reported on The Guardian
The percentage represents the biggest proportion of any month since the data were made available by the Australian Energy market Operator in 2006, according to the report from the engineering consultants of the Australia Institute and Pitt&Sherry.
The high proportion of renewables contributed to a drop in emissions from the national electricity market, which is less than 0.8% earlier last year. In the full year to October, renewable energy accounted for 14.7% of supply to the national electricity market that includes the eastern states and South Australia. Hugh Saddler of Pitt&Sherry, the lead author of the report stated that it has been the biggest share since 1982 when demand was lower and was supplemented by hydro power.
Saddler also said that it further shows the potential of a combination of renewable sources to produce very large amounts of power, which will help put downward pressure on future price hikes as replacement cost impact wholesale prices. The report also showed the wholesale and historical prices and found that it lacks correlation.
New South Wales and Victoria wholesale prices have remained flat for 20 years in real terms as stated by the report. But despite this, retail prices in the said states have risen sharply since 2007, nearly doubling over the 20 years.
Saddler also said that consumers concerned about electricity prices for households and businesses should be focused on the distribution and the retail slide on this issue, but for some reason, consumers usually hear about the production and wholesale concerns from the politicians.
Featured Image Credit: The Guardian