Look out Toxic Tony fossil business model unravelled already!
Originally posted at RenewEconomy. View the original post here.
As Prime Minister Tony Abbott again attacked renewables for their presumed impact on consumer bills, wholesale energy prices in Queensland have slumped to unprecendented lows as rooftop solar continues to boom in that state.
Wholesale electricity prices this week in Queensland have fallen below $30/MWh – see graph below – far below the levels of other states as mild weather and sunny condition reduced demand and generated a large amount of solar electricity.
The dramatic fall in wholesale prices underlines why generators such as the Queensland government-owned Stanwell Corp and CS Energy want the renewable energy target to be brought to an end. Nearly 4,000 households a month are applying to put panels on their roofs in the south-east corner of the state alone, as consumer bills soar again.
Stanwell, which owns more than 4,000GW of coal and gas-fired generation…
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