Cold snap confirms energy price surge, and need for gas and coal

Angela Macdonald-SmithSenior resources writer

Jul 24, 2024 – 5.00am

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A 70 per cent surge in gas-fuelled power generation was behind a near-doubling of wholesale electricity prices across some south-eastern states in the June quarter, while forward prices for power rose across the board amid worries about potential supply shocks.

The figures from the Australian Energy Regulator confirmed a “drought” in wind power generation in the April-June period, when electricity produced from wind turbines slid to just 12 per cent, its lowest share in the mix since the same quarter in 2021.

Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables.