Wholesale electricity prices have soared and on Monday exceeded the capped price of A$300 per megawatt-hour. Above A$300, coal power generation plants lost money and forced some operators to shutter power generation units, thus removing energy capacity off the grid and sending prices even higher. The rise of power prices began when coal prices jumped following the Russian invasion of Ukraine.
Bowen snapped at a journalist when asked if more coal power is the answer the energy crunch.
Chris Bowen isn't having any of Uhlmann's 'wind doesn't always blow' rhetoric. ......Also, the coldest start to a winter season in decades is boosting heating demand and worsening the problem. Australia better find a way to bring more coal power plants online or risk widespread blackouts amid high demand because of the winter chill.
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