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Wind And Solar Delivering ‘Stunning’ Price, Demand And Emission Falls

The ongoing expansion of wind and solar power in Australia’s main grid has delivered stunning price falls in the latest quarter, according to an Energy Dynamics report from the Melbourne-based Australian Energy Market Operator.

Its latest quarterly report indicates that the share and reach of wind and solar have been hitting major new milestones at the time when Australia has also seen the setting of new lows for minimum demand and record low output for black-coal generators.

Average wholesale prices for power plunged 68 percent in the latest quarter, thanks to surprisingly low volatility, the report says – though observers note that this turned out to be bad news for pumped hydro and battery systems.

“In the last quarter, we’ve experienced less price volatility, an increased volume of low-priced coal and hydro generation and a 29 percent increase in wind and solar generation, all contributing to lower wholesale prices,”  commented AEMO chief markets officer Violette Mouchaileh.

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