Already a subscriber?When temperatures soared near 40 degrees in Australia’s south-east in February, and violent storms toppled transmission lines in Victoria, utilities like AGL and Origin scrambled to stabilise the power grid.
Spot prices move every five minutes and rates can see-saw when drastic shifts in weather upend the supply and demand of power. While it was unclear how much money was made, or lost, in last month’s power outages, the risks and rewards of betting on the energy market are transforming the space into a casino of sorts, where punters buy low and sell high.
“ trade US and European energy and carbon pretty heavily, but they need to grow. They need new products and desks to grow revenue,” he said. InCommodities – which made a €1.05 billion in profit in 2022 – just snared Andrew Koscharsky from Squadron Energy to build a local energy trading business. He said the Danish firm’s rationale for entering Australia was not only due to choppy weather, but to develop a “more predictable revenue profile” for power companies.
As more coal-fired power stations go offline and generators turn to renewable energy, the climate will play a greater role in how power is distributed. “ shares some trends with Europe, but it is a fundamentally different market. Europe has a very liquid short-term market, whereas the Australian market does not have this,” a spokeswoman for Origin Energy said.
الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين
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