Shut down or lose $5 million an hour

Australia’s renewable energy policies threaten multi-million-dollar losses for industry

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Generators at five of the six New South Wales coal-fired power stations were hit by outages heading into the long weekend, spiking spot prices to a forecast high of $14,000 in the early evening.

The outages threatened a third day of shutdowns at the Tomago aluminium smelter, the state’s largest single energy user, to avoid multi-million-dollar losses on the high energy prices.

“This is a direct result of renewable energy hollowing out the baseload generation in this country,” said Tomago chief executive Matt Howell.

Mr Howell said that at $14,000 per MWh it would cost $200,000 to make a tonne of aluminium and the plant would lose $5 million an hour.

https://www.theaustralian.com.au/business/mining-energy/outages-see-power-prices-hit-the-roof/news-story/38a4236fd9d31e609dc378cf6510509b

Thanks to sultanaman for this link

The post Shut down or lose $5 million an hour appeared first on Ice Age Now.

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June 9, 2018 at 04:06PM

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