NSW energy consumers will likely still end up with higher bills as a result of the NSW renewables auctions, large energy users say.
Politicians’ claims that NSW consumers will get cheaper electricity due to a government auction of contracts for renewable energy supply have been countered by large energy users and analysts, who say consumers will still be exposed to high wholesale power prices.cited in the NSW government’s announcement on Monday of $2.5 billion of solar, wind and battery projects
, who was the NSW energy minister when the framework legislation supporting the system was developed. He compared the prices with current wholesale prices closer to $100/MWh. “I’d be very wary that the headline number is not the real number that consumers or taxpayers pay: it will be a number higher than that that will be paid to the project proponent,” said Andrew Richards, head of the Energy Users Association of Australia, which represents energy-intensive manufacturers, and“What might look like a headline price of $50 a megawatt hour ... over a period of time it could be anything between ...
He said the strike prices “mean projects are better off not exercising their option to the price floor”, and that consumers would pay less under the scheme than under the “contract for difference” structure typically used in similar processes.For NSW consumers, the key benefit is that the projects have been specifically selected by AEMO Services to reduce the wholesale electricity prices paid, the AEMO Services spokesman said.
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