Power prices 30.6.2023 as a means to measure

[Kwality]

Some Australian households are facing power price hikes of up to 100 per cent as the "long tail" of last year's energy crisis hits home hard, according to consumer advocates.

Power prices to skyrocket in eastern states as energy chaos fallout hits hard

Some households are facing power price hikes of up to 100 per cent as the "long tail" of last year's energy crisis hits home hard, according to consumer advocates.

www.abc.net.au

Key points:​

• Benchmark power prices will rise 20-25 per cent across Queensland, NSW, Victoria and SA from tomorrow
• Consumer advocates warn tariffs could jump much higher for customers on expiring competitive deals
• Energy providers say it has never been more important for households to shop around for the lowest price

Under decisions by energy regulators, benchmark electricity tariffs will increase between 20 and 25 per cent across south-east Queensland, New South Wales, Victoria and South Australia.

"And, in fact, in some cases people are getting much, much higher increases — 50, 80, even 100 per cent in some cases.
"Unfortunately, this is the long tail of the chaos in the wholesale market that we saw last year."

Measuring the decisions by energy regulators is a fair ask.

 

[Kwality]

'The Australian Energy Regulator has announced it is taking action against the country’s biggest coal generator, AGL, and some of its subsidiaries for failing to provide the essential grid stabilising services that they had been paid to deliver.

The action from the AER follows a series of investigations into how generating and storage systems had responded to a series of grid events, some of which had led to losses of power in various parts of the grid.'

AGL coal plants in trouble for failing to do what it says on the box and stabilising grid

AGL faces heavy fines after regulator discovers that two of its coal generators did not deliver the grid stability services they were paid to do.

reneweconomy.com.au

No one can argue with keeping all players honest:
'Last year the AER took action against the Hornsdale Power Reserve, aka the Tesla big battery, for failing to deliver the amount of frequency control response that it had been paid to deliver.
The AER nevertheless took a dim view and fines of $900,000 were imposed.'

 

[Harro59]

It was awkward timing when these prices rises were released, well not really, i doubt that AGL gives a crap, but when 20 -25% inceaes are handed out and your profits seemed to double, well it just seems to the average punter there's a bit of price gouging going on.

It's interesting about power prices, referring to the images from AEMOs dashboard, from 2019 when the cost of wholesale power dropped 50% then 25% in the following year we didn't see a change from the regular at all.

In fact in some areas prices are back to the 2019 levels. Considering in QLDs 2023 was better than its 2022 and I suspect they'll be back to 2018 and 2019 wholesale costs this year, but I wouldn't be holding my breath about retail price changes. Unless of course they need to go up.