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How Sunshine Hydro can put Downward Pressure on Electricity Prices

By Chris Baker, Founder and Director Sunshine Hydro.

Electricity spot prices are more than double where they were 12 months ago according to AEMO’s quarterly energy dynamics report. Queensland prices are higher than other states and for Q1 averaged $150/MWh which is its second-highest quarter since 1998.

AEMO’s general manager of Reform Delivery, Violette Mouchaileh said, “Wholesale prices in Queensland and NSW were again significantly higher than in southern states. This was due to the larger price-setting role of black coal generation and system security constraints limiting daytime electricity transfers from Victoria into NSW…”

According to Giles Parkinson writing in Renew Economy, “The reputation of coal as a source of cheap and reliable baseload has been further damaged by the latest official quarterly market report that squarely blames coal plant outages and coal market bids for the sharp jump in electricity prices in the March quarter.”

Sunshine Hydro can help. Our business is “keeping the lights on®” using 100% renewable energy.  By using pumped hydro and hydrogen matched with wind and solar power a typical Sunshine Hydro SuperHybrid™ will produce power 24 hours a day, even through times of low wind and solar.

This will put downward pressure on electricity prices 24 hours a day leading to better outcomes for electricity consumers not only in Queensland but in the other interconnected states.

Sunshine Hydro has just announced the Flavian Project in Queensland and this project will produce 220 MW of firm green energy 24 hours a day every day of the year.  This is equivalent to a small coal-fired power station, and as an example is much more than what was produced by Collinsville Power Station which closed in 2013.

Companies that wish to secure early access to this limited 220 MW of firm green energy from this project are encouraged to contact Sunshine Hydro www.sunshinehydro.com

References:

https://www.aemo.com.au/newsroom/media-release/electricity-prices-driven-by-outages-and-higher-generation-costs-in-volatile-march-quarter

https://reneweconomy.com.au/its-time-we-stopped-kidding-ourselves-about-cheap-and-reliable-coal/https://reneweconomy.com.au/its-time-we-stopped-kidding-ourselves-about-cheap-and-reliable-coal/

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