Watch live as war-profiteering energy cartels steal from you!

At any given minute, you can watch the blood-sucking gas and coal gangsters stealing from you in real-time. The Australian Energy Market Operator (AEMO) offers real-time dashboard data that exposes the shoddy billionaires as they literally reach into your collective wallets and steal scores of billions.

The gas price has not budged from its regulated $40Gj. A price 1000% above historical ranges at which every gas user east of WA will be out of business in due course. Its dashboard is here.

The electricity dashboard is here. It is fascinating and shows in each state how, when and why the energy cartels are robbing you.

You can also watch the OPEN NEM here.

As you go through these charts, recall that the traditional price for power on the east coast is $25-50MW/h and closer to the bottom of the range. Now it is this:

The red arrows indicate power flows from one state to another through interconnectors.

State by state points to remember:

  1. VIC and SA have the largest wind resources.
  2. VIC also has a lot of brown coal which is not exported so its price is local and low.
  3. But both are reliant upon gas to balance wind and solar with firming power.
  4. NSW and QLD are much more black coal-dependent.
  5. None of these numbers include rooftop solar.
  6. The AEMO auction of power happens every five minutes and each time the bid stack goes something like this:
  • renewables bid zero
  • coal bids what it needs to
  • gas bids highest.

6. Coal and gas, therefore, set the marginal cost for much of the time. Except in SA where there is so much renewable power that the price often collapses below zero.

When you click on the “fuel mix” tab on the AEMO dashboards, you can see the results for each state.

For example, at 6.25 this morning, wind was doing all of the heavy lifting in SA. But, even though it bids $0, gas has set the price at a whopping $228MW/h:

In VIC, brown coal and wind were doing most of the work, plus imports, driving up its marginal price:

NSW is using a lot of black coal, some wind and gas to deliver its crazy prices:

Ironically, the coal and gas-friendly state of QLD is where the greatest theft is underway as it relies far too much on both, sending the price of power 2000% above traditional ranges:

Enjoy watching the shoddy billionaires as they shove their fat, war-profiteering mitts directly into your trouser pocket.

Or, call your local MP and tell them to stop this outrageous daylight theft by smashing the war-profiteering energy cartels using any and all policy weapons at their disposal.

Houses and Holes
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Comments

  1. Craig S.MEMBER

    Nice work DLS – nb. you can actually bid -ve power numbers as a renewable generator because you have your +ve LGC $/MWH to consider.

        • boomengineeringMEMBER

          Move to WA and get ostracized.
          An ex training partner from the 1960s rang yesterday. He moved to a new suburb south of Safety Bay. Complained bitterly about Syd/Mel number platers selling up in home state and pricing his grandkids out paying the exorbitant amount of $450k cash and having enough left over for a second. He was also bitter about them not using indicators when driving.. I pointed out that at least they stop at cross walks. When I said that I was only living in a fibro ( although a big size) he said yeah but it is worth 1M. Even when they change to WA plates they are rembered as foreigners.

      • Oh Totes where art thouMEMBER

        Ms King has been working the phones in an attempt to get Australian gas producers to inject more supply into the system, but noted their efforts were constrained due to existing pipelines operating at near capacity and a lack of gas shipping infrastructure across the country.

        Where’s all that gas in the pipeline going? Domestic use or to prop up the east coast gas cartel’s profit margin?

        “That kind of system is very hard to reverse engineer now on the east coast, [the] export market was developed without that in place, investment decisions were made without that restriction.”

        Welcome to capitalism. The gas companies made bad decisions.

        • Yes, they made bad decisions & Aussies have being playing ever since. Time for the gas cartel to pay & pay back what they have cost us in excessive energy prices.

    • Ronin8317MEMBER

      Is she really the Australian Resources Minister? How come she sounds like a PR consultant for the gas cartel?

  2. Resources minister on Radio National this morning emphasized our need to keep the gas contracts with Japan and Korea (now strategic friends) but failed to mention how much we send to China. Back to politics as usual I guess, though she did mention the political cost / difficulties of getting the WA domestic gas reservation policy installed.

      • ErmingtonPlumbingMEMBER

        The ALP got badly mauled last time they went after Global plutocratic corporations with their super profits mining tax.
        They are going to play it safe because of that,…unfortunately.

        • Yup, it sucks. Too many times Labor has paid the price for trying to do the right thing so this is what we get. It’s our fault, we either vote against them or don’t support them when they try to make the tough calls and so we get more mediocrity. Swing voters and whingers should take note.

          • Sadly this is true, though I do think the situation has changed (though need another 6mths of hardship probably for enough people to see the light) and the bombs they dropped last time won’t be believable. Unfortunately all happen likely too late.

  3. By golly, everything is so much better now for consumers. I don’t know how Australia survived before our brilliant economists took over the whole show, from electricity to the CES to TAFE, with their “privatisation” and “competition” and “free markets”. Gone are those bad old days when the SECV set “tariffs” and the argument was about equalising country and city tariffs.

    • Can’t you feel the efficiency of this market led economy. I think Howards neo liberal vision has worked as all we have is efficient mining, farming (when the sky rains and the sun shines and we can keep clearing that underutilised scrub) and baristas.

  4. We watch the dashboards in the organisation I work in. When a threshold of price is reached, we curtail production because the cost to continue is higher than the cost of doing nothing. Historically, this has occurred only during summer, but it’s happened recently in the winter months, which is a first.

    Imagine that….leaving a large plant idle because that’s the best option!! It doesn’t take much imagination to extrapolate what might happen if energy prices continue to increase!! Permanently idle!!

    An ADGSM will be a no brainier to trigger, especially when almost all businesses will being on-side to side step soaring input costs!! But the Business Council of Australia seems to represent a only tiny fraction of it’s membership!!

  5. The red/orange arrows are actually where the interconnector has reached current limit (based on total capacity and local factors like capacity within the state and temperatures).

    The arrows show direction of power flow, which is also indicated by the +/- sign, an annoying duplication of information.

    The two Vic-SA interconnectors should also be the other way to make geographic sense (connection through Mildura is at the bottom and through Mortlake at the top.

  6. Cam I take from this that SA is profiting big time by exporting wind power to the east at peak (expensive) periods?

    • Looking back since October 2021, when the current “Five Minute Settlement” (5MS) regime commenced, SA has been a net importer of electricity each month.
      I’d have to do more work than I care for right now to calculate the value of SA’s exports vs imports, but I can tell you that price volatility has wildly increased since the commencement of 5MS as previously settlements were done every half-hour by averaging the prices of the preceding six dispatch intervals and so now with settlement happening for every dispatch interval there has obviously been a change in bidding strategies by generators.
      SA’s average spot price this financial year is $102/MWh compared to the previous financial year’s $44/MWh. Most of that increase has happened in the last couple of months: $14.54 (Oct 2021), $37.69, $70.31, $88.94, $54.15, $67.01, $152.34, $312.31, $323.35 (June 2022 to date).

  7. OK, the narrative is in! Guess whose fault it is?
    ‘Visionary’ gas policy rejected by Labor a decade ago
    The Albanese Government is facing a new clamour about energy prices and demands to increase domestic gas supply and reduce prices and more than half the Cabinet is going to have to revisit the issue of domestic gas preservation a decade on since the Gillard Government rejected it and in a completely new global energy and political environment.
    (note to subbies: 5x “and” in that horrible sentence).

    • TheLambKingMEMBER

      ‘Visionary’ gas policy rejected by Labor a decade ago

      Always Labor’s fault! The LNP have not needed any input from Labor to pass legislation for the last 9 years. So how is it Labor’s fault? If the LNP had implemented an energy policy (encouraging interconnects, encouraging generation capacity) at any time in the last 9 years we might not be in this mess. Or they could have reserved gas for domestic use at ANY time in the last 9 years.