Business
COVID, renewable energy combine to spark hopes for power bill relief – Sydney Morning Herald
Coronavirus and renewable energy are driving down wholesale power prices as Angus Taylor warns retailers they must pass the savings on to their customers.
Coronavirus restrictions across the economy have reduced the nation’s energy demands, which have flowed through to wholesale prices. Meanwhile, the growth in renewable energy generation – which makes up more than 20 per cent of the nation’s power and is expected to grow sharply in the coming years has reduced daytime spot prices, putting more pressure on coal-fired generators.
“We have seen record high renewable output and record low coal output since the start of the National Electricity Marke…
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