The Oil Drum: Australia/New Zealand

According to market theorists spot pricing is supposed to even out the zigs and zags. Therefore AGL must have thought they were helping charging $5 per kwh, still only half the NEC price cap. Adelaide's gas fired generation of around 1.3GW (if I recall), mostly single cycle, will clearly not be replaced by a handful of wind farms when gas runs out, especially if they go to desal in a big way. As Cooper and Gippsland Basins deplete SE Australia should be getting gas from the northwest. Instead our very own northern state governments are flogging the remaining gas to Asian customers. Not much thought of saving some for the bruvvers down south.