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Coal Failures Make Australia World’s Most Volatile Power Market
Unplanned coal power plant outages, the impact of natural disasters on transmission lines and huge deployments of rooftop solar have made Australia the world’s most volatile power market, according to Rystad Energy. Price spreads on the National Electricity Market, which covers about 80% of Australia’s demand, were the highest among 39 markets studied globally, the industry consultant said Monday in a report. Australia is at the forefront of the energy transition, rapidly replacing its backbone of aging coal plants with solar and wind power. Renewables made up a record 39% of supply last quarter, according to the ... (full story)