Power costs slashed as green energy surges on Australia’s east coast

TL;DR

Significant growth in clean energy output and the impact of emergency fossil fuel price caps are continuing to drive down wholesale electricity costs on the eastern seaboard from last year’s unprecedented highs. Credit: Joe ArmaoThe Australian Energy Market Operator (AEMO) said the latest declines were being driven by record output from rooftop solar panels slashing grid demand to its lowest first-quarter levels in 18 years, while the build-out of more wind and solar farms was increasing supplies and squeezing expensive coal- and gas-fired power further from the mix. \\u201CThis is clear with the projects in Victoria\\u2019s Murray River renewable energy zone that are burdened with generation impacts,\\u201D he said

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