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by SturgeonsLaw 1163 days ago
Installing a battery in South Australia did not lead to to a quadrupling of national energy prices. The cost of energy globally has shot up since 2020, and Australia's spot prices are based on the global market.

https://fred.stlouisfed.org/series/PNRGINDEXM

Energy independence in the form of renewables is now more advantageous than ever. Tethering your economy to global price hikes like this is a vulnerable position to be in.
2 comments
whatever1 1163 days ago
The graph shows the cost of energy globally at worst doubled. So Australia’s increase is double the global average.

Also renewables were supposed to decrease the exposure to such global price fluctuations, or at least act as a backstop for the marginal kWh.

Apparently the backstop is still much higher. And batteries do not generate energy.

link
nl 1163 days ago
Australia's spot prices aren't based on the global market.

They are based on the (Australian) national energy market (NEM) which sets price based on supply and demand across South Eastern Australia (WA and NT aren't in the NEM)

link