Consumers are being warned not to expect any immediate relief despite a big fall in wholesale power prices to their lowest levels in two years.
Consumers are being warned not to expect any immediate relief in their bills despite wholesale power prices falling to their lowest levels in two years.Wholesale prices in Australia's biggest power market have slumped 71 per cent year-on-year
In Western Australia, which is not connected to Australia's main grid, prices fell from their record earlier this year but were still the highest in the country at $99 a megawatt hour. "The pipeline of new renewables, if supported by firming generation – batteries, hydro and gas – and transmission, will help meet reliability gaps and share low-cost, low-emissions energy to homes and businesses."Head of the Energy Policy Centre at Victoria University Bruce Mountain said the report showed how the fortunes of coal-fired power and renewable energy were clearly diverging.The rise of rooftop solar in Australia shows no signs of slowing, bringing cheap, clean power.
According to Professor Mountain, the reduction in wholesale power prices was also unlikely to give hard-pressed consumers any immediate relief from the pain experienced over the past 18 months.Benchmark electricity prices have soared almost 50 per cent on average since July last year as power providers sought to pass on the costs associated with an unprecedented energy crisis.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Consumers leave the car at home as they flex budget muscleQuarterly consumer insights from NAB show that Australians are now well-versed in how to face rising living costs.
Read more »
Consumers go DIY as beauty costs get uglyJust as inflation has affected grocery bills and insurance costs, it has also increased the price of beauty services, driving more people to do it themselves.
Read more »
Consumers go DIY as beauty costs get uglyJust as inflation has affected grocery bills and insurance costs, it has also increased the price of beauty services, driving more people to do it themselves.
Read more »
Consumers go DIY as beauty costs get uglyJust as inflation has affected grocery bills and insurance costs, it has also increased the price of beauty services, driving more people to do it themselves.
Read more »
Supermarket CEO’s big call on price dropIn good news for consumers facing cost of living pressures, the price of meat is expected to fall in the coming months.
Read more »
Innocent Palestinians paying a ‘horrible price’ for Hamas’ ‘barbarism’Industry Minister Ed Husic says innocent Palestinians are paying a “horrible price” for Hamas’ “barbarism”. “There is by no doubt a requirement an understanding there will be an undertaking by Israel to hold Hamas to account,” he told Sky News Political Editor Andrew Clennell.
Read more »