Australian (ASX) Stock Market Forum

The future of energy generation and storage

For transition and price stability they really needed gas, the east coast gas market shambles has blown that all out of the water as the price of gas spirals out of control and major market players reap the befits of low taxation and lack of domestic regulation as Australia throws away the immediate benefits for future generations.

Instead we (that's all of us) pass on the benefits of government debt which has SFA to show for it.

One idea I did see recently (its not new) is all the US military nuclear reactors that are around on war ships, using them as stop gap measures or similar size reactors that are mobile devoted to power generation moveable to where they are needed.

Doesn't solve Australia's problems as we have no chance of access to the tech unfortunately.
You are spot on, it isn't going to be an easy road and I can't see how it will be achieved without the Govt getting involved.
The private sector aren't going to put in plant on the hope that it will be required, they want guaranteed dispatch and with renewables that isn't easy.
 
Even the RBA is now starting to pop the bubble, that the price of power will reduce as we transition to renewables, people just have to accept power is going to get very expensive:

Reserve Bank of Australia governor Philip Lowe has issued a blunt warning that the renewable energy transition would probably spark higher and more volatile energy prices in the years ahead
an interesting TED talk dealing with solar wind and coming from a deep woke green person...
 
You are spot on, it isn't going to be an easy road and I can't see how it will be achieved without the Govt getting involved.
The private sector aren't going to put in plant on the hope that it will be required, they want guaranteed dispatch and with renewables that isn't easy.

Feeling the love SP ????
 
For transition and price stability they really needed gas, the east coast gas market shambles has blown that all out of the water as the price of gas spirals out of control and major market players reap the befits of low taxation and lack of domestic regulation as Australia throws away the immediate benefits for future generations.

As I see it, there's a vast gap between what's possible within the real technical and economic limits versus the corner the nation has backed itself into.

An epic gap.

My guess is we'll see a shift in attitudes about 8 months from now. ;)

Only way out of the mess in my opinion is the one that terrifies politicians. A semi-autonomous commission set up in much the same manner as Victoria and Tasmania historically set up their state-owned energy industries.

Both were intentionally set up to strangle any interference from politicians. That was a double edged sword most definitely but it's one that Sir John Monash insisted on in Victoria, he simply refused to take the job without that autonomy, and which Tasmania didn't simply copy but outdid a few years later.

That model is absolutely a double edged sword, it's a decidedly dangerous tool, but history shows it gets things done. It brings about military precision at the technical level and sets a runaway train in motion with getting it done. That's dangerous yes but right now a runaway train of progress on this issue is something we actually need, it beats the mess we've got even though we know someone will have to reign it in at some future time when the job's done.

That's not to say there shouldn't be constraints and proper, scientific approaches to the environment and so on, there most certainly should be, but we can't afford to spend years arguing over each and every bit of triviality. To the extent there's a role for parliament, that's to give the final approval, it's not to spend a decade arguing about the design. :2twocents
 
Anyone open minded enough to mention nuclear, IMO needs to be given credit, way too many are stuck in blind ideology.
As with any clean energy source, they all have to be considered on their merit.
I'm yet to see anything convincing that nuclear's the best option in the Australian context, cost being the key problem, but an open mind should always be kept certainly. :2twocents
 
an interesting TED talk dealing with solar wind and coming from a deep woke green person...
At the global level I agree there are difficulties.

In the Australian context I suggest driving from Sydney to Adelaide via Broken Hill. Take note of all that you see.

Now take a look at a map of Australia and note where you drove.

We're not even slightly short on land in Australia for the development of wind and solar. Not even slightly.

As a physically large country with stuff all population and among the best wind and solar resources on the planet, this is something we ought be able to do pretty easily if we put our brains to use, stop coming up with silly excuses, and get on with it. :2twocents
 
I'm yet to see anything convincing that nuclear's the best option in the Australian context, cost being the key problem, but an open mind should always be kept certainly. :2twocents

Yes, the cost benefit ratio of nuclear for this country is very poor, but all technology advances so one day nuclear may be a viable alternative.

(In 30 years when we have fusion ;) ).
 
At the global level I agree there are difficulties.

In the Australian context I suggest driving from Sydney to Adelaide via Broken Hill. Take note of all that you see.

Now take a look at a map of Australia and note where you drove.

We're not even slightly short on land in Australia for the development of wind and solar. Not even slightly.

As a physically large country with stuff all population and among the best wind and solar resources on the planet, this is something we ought be able to do pretty easily if we put our brains to use, stop coming up with silly excuses, and get on with it. :2twocents
Sure and i have solar on my roof and plan to go battery..at the house level, no issue when living on a standalone house let alone farm.
Now there is a clear push for purting people back in hutches sirry high density housing . As part of the Reset..
So solar will need to be in solar plant
You are in the industry, how often do you build plant with a 20y at most life expectancy?that is your made on china panels at best, no real scalibility:
Aka the panels in your farm are not ge 100m x100m ones, just multiply the household style ones .so more connections..and so more maintenance and coming troubles.etc..you know what i mean as an electricity guy
I travelled that coubtry back and forth and yes we have a lot of disposable land..i am not including the greens expected protests there but not that many near the centres ..so more power lines infrastructure and losses..
And shile i have seen a lot of land , i did not see much relief and even less permanent water for "batteries"
So we end up with h2 production ...with what water? And physical transport..pipelines? Trains? What trains?
Peole are disillusioned if they believe our empty lands and great sunshine is an easy get out of jail card for this country.
And it is pretty clear when i look at my bill, or when AGL wrote off their green plants and my shares declined..or are people short of memory .but i know, niw it is different
Yes, the cost benefit ratio of nuclear for this country is very poor, but all technology advances so one day nuclear may be a viable alternative.

(In 30 years when we have fusion ;) ).
Actually mr Rumpole, in the last 5y, fusion has made giant steps both at gov research level US China but even private companies.
I actually wonder if we are not kind of already there technically
 
The walls keep closing in around Bowen, it is all getting to the pointy end, whether they like it or not. The legacy generators aren't going to keep plant sitting there, maintained and manned, just as a back up for a Government renewable initiative.
There will have to be some firm plans and actions very soon IMO, time to walk the walk.
It is good to see AGL accelerating the closures, let someone else be holding the parcel when the music stops, I do hold AGL.

Nov 24 (Reuters) - Australia's AGL Energy Ltd (AGL.AX) on Thursday disclosed plans to shut down its gas-fired Torrens Island 'B' power station in South Australia in June 2026, having closed the final unit at the 'A' power station just a few months ago.

The country's top power producer said the decision to shut down power station 'B', which commenced operations in 1976, was made after consulting stakeholders such as the South Australian government and was done in part due to the company's transformation of Torrens site into a low-carbon energy hub.
AGL in September flagged the closure of the final 'A' station unit at the Torrens Island site and said it will begin the decommissioning process, which involves the removal of all liquids and gases from the plant.
Separately, AGL unveiled plans in September to spend up to A$20 billion ($13.46 billion) on renewable energy by 2036 and bring forward its exit from coal-fired generation by a decade.

The first of the four power-generating units at the station had been deactivated in October 2021, and AGL expects all units to be retired by June 30, 2026.

These closure plans are not expected to have a material impact on underlying profit in fiscal 2023 or over the longer term owing to the economic viability of the station, the company added.

 
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Well,well, AGL to get $20m to keep the gas plant available until 2026.
As I said a while back, the problem isn't going to be shutting down power stations, it will probably end up being trying to keep them operating. :roflmao:

South Australian households and businesses will foot a $20 million bill to prevent AGL Energy from closing part of a gas power station in Adelaide next year, and instead run it for another three years to stave off electricity shortages.

The side deal emerged after AGL advised it would close the remaining three units of its ageing Torrens Island B gas power station in 2026, citing the construction of a new interconnector cable between SA and New South Wales that is set to plunge the generator into deeper losses.

After mothballing the first of four units at the 800-megawatt Torrens Island B plant in October last year, AGL intended to mothball another known as “B2” in 2023 but has instead agreed to carry out a $20 million maintenance program to keep it going to bolster grid reliability during peak demand periods and ward off electricity shortfalls in the state on extremely hot days.

The bill for the work will be paid by all household and business consumers which SA’s sole electricity distributor, SA Power Networks, supplies. It follows lengthy discussions with the Australian Energy Market Operator and the South Australian government. It will be passed through to those customers via an annual $2.70 fee for each of the next three years under a compulsory regulatory mechanism.

The closure decision announced by AGL on Thursday highlights the vulnerability of traditional generation in the rapidly changing energy market, where ageing coal and gas plants are coming under increasing financial pressure due to the rise of cheap renewable energy. The Torrens Island B plant was built in 1976.

Before the advised closure of the first unit, the Australian Energy Market Operator had assumed the four units would continue to operate until 2035. But the plant uses outdated technology that does not allow it to be ramped up and down to match swings in demand due to the rise of wind and solar power, meaning it can get caught out when wholesale prices dive into negative territory during the day.

The timing of the closure of the remaining three units has been driven by the schedule for starting up the $2.3 billion interconnector, Project EnergyConnect, which is being built between NSW and South Australia and is due to come online in mid-2026.

The interconnector is expected to unlock more than $20 billion in new renewable projects in both states and provide system security to the South Australia grid to ensure it is not “islanded” from the National Electricity Market when its interconnection with Victoria is broken.

That “will further impact gas-fired generation in South Australia and as a result the economic viability of the power station,” AGL said.

“We are losing money with this power station in the current environment,” AGL chief operating officer Markus Brokhof told reporters at the site on Thursday.


Asked to quantify the losses of Torrens Island B he could not be specific, but said it was “millions”.

About 120 people work at the generator and Mr Brokhof said it was a difficult day.
 
Peole are disillusioned if they believe our empty lands and great sunshine is an easy get out of jail card for this country.
And it is pretty clear when i look at my bill, or when AGL wrote off their green plants and my shares declined..or are people short of memory .but i know, niw it is different
AGL is also losing money with gas.

Therein lies the real problem and it's not about technology but rather, it's about the industry structure.

Nobody's getting too excited about nuclear because quite simply nobody with the money to do so actually wants to build one, at least not that they've made public, and the reasons for that are much the same reasons why nobody apart from government has much interest in pumped hydro and it's the same reasons why AGL is closing Torrens Island.

In any power system, if it's to be technically robust, there will be components which are individually unprofitable on a standalone basis. Bearing in mind that which parts those are, which bits are unprofitable, will itself change over time.

Go back 40 years and Torrens Island was generating 70% of all electricity in SA with an operating capacity of 1280 MW from 8 generating units. 4 x 120MW and 4 x 200MW. The overall success of SA was extremely heavily dependent on this power station which is itself somewhat of a landmark, the two stacks being visible across much of Adelaide.

Past 12 months it contributed 7.1% to SA's electricity supply with an operating capacity of 600MW, that being 3 x 200MW which on average was just under 20% utilised.

This gets to the heart of the problem.

From a technical perspective, to maintain a reliable power system, there's an extremely strong argument to retain Torrens Island in service at least partially and that's not due to averages but due to the extremes. 5.2% of total output occurred over just 6 days during the past year and 28% occurred over two months. On those days it was indeed critical. Another way to put it is that average utilisation and revenue has dropped dramatically but the peak requirement still substantially remains. A classic example of an asset that's moved into the unprofitable stage of its life - now nobody wants to foot the bills.

SA already has a somewhat inadequate generating fleet, hence the various incidents which have occurred, and the new 800 MW interconnection with NSW goes a long way to fixing that. Trouble is, AGL is "fixing" the outcome of that new 800MW interconnection by closing 800MW of generation in SA. Or in other words, completely offsetting it.

Now from AGL's commercial perspective that's a completely rational decision. Their responsibility is to shareholders, not the public of SA, and they're acting on that basis.

It does get to the crux of the problem though and there's plenty of examples now.

A monopoly utility, regardless of who owns it be that listed, private or government, can and generally will do what's necessary to maintain technical integrity. They'll have adequate plant and just spread the cost across the customer base. Plenty of examples of that in the past, old plant retained "on standby" and it ended up running 2 or 3% of the time.

In a competitive market however that doesn't work. No company wants to own the unprofitable bits and once they become unprofitable, that tends to be game over. Hence we see closures immediately followed by demolition - and AGL has already announced that demolition will indeed quickly follow closure at Torrens Island.

End result is the present market structure will always produce a barely adequate system that's prone to failure. It doesn't matter what technology is used, it leads to the same outcome due to the industry's present structure. When it's all owned by different entities, and nobody's obligated to ensure adequate supply, the result is nobody wants to own the technically needed but financially unprofitable bits. That applies regardless of whether it's coal, gas, nuclear, oil, wind, solar, hydro or whatever.

If we want a reliable system based on renewables then it can be done. There are plenty of people capable of designing and building it. We've got plenty of land and, in the eastern states, plenty of good sites for hydro storage.

Same with fossil fuels. It can be designed and built sure.

Same with nuclear.

As a case specific to AGL, well they could replace this weir with a large (~50m high) dam:


By doing that they'd have 2.5 years' worth of water stored, rather than the 0.3 years' the store at present, and that then enables the existing McKay, Bogong, Clover and West Kiewa power stations to be repurposed for the specific role of firming wind and solar during periods of low yield. It also permits the addition of a fifth power station to the scheme.

That they haven't done it is because:

1. Financially not attractive. Their job is to make money, it's not their job to ensure the lights stay on.

2. Building dams is outside AGL's core expertise and business.

3. Fair chance they'd end up with protestors marching down the street against it and trashing the company's reputation among an uninformed public.

And so we end up with a minimally adequate system, prone to failure. We've ended up in that situation not because of renewables, it's been done with coal and gas, and we'd end up in the same with nuclear as well for the same reasons. All technologies fail when only a bare bones approach is taken to their implementation.

So long as the "fix" for someone adding more capacity, enough to make supply robust, is to then close an equal amount of capacity then we're stuck with the problem. And to be fair to the companies, so long as they're all competing for short term dispatch, literally every 5 minutes, then they're going to take that cost minimisation approach.

It's not a coincidence that the UK, upon which our market design is heavily based, is also in a mess. Not a coincidence at all - do the same thing, get the same results. :2twocents
 
Generation from Torrens Island power station, past 12 months on a daily basis:

1669301805428.png


Past 7 days in detail:
1669301873336.png
 
Putting some figures around this to illustrate the point and using SA as the example:

Peak demand in round figures = 3400 MW

Average demand = 1500 MW

Now if the aim is reliable supply then you won't find an engineer who comes up with anything less than about 4100 MW as being the required capacity. That allows 3400 MW to be run plus the other 700 MW to cover breakdowns etc. Even that's pushing it - most would feel more comfortable with somewhere around 4300 MW installed.

How a single utility would do that is straightforward. Build modern, efficient plant up to the point that meets routine requirements. Keep serviceable but technologically obsolete "old clunkers" on standby for use when demand spikes or breakdowns occur.

Hence if we look at it historically well that is indeed what was done. Modern plant built to suit routine requirements, old clunkers in reserve to fill the gaps when needed. And they did get used, plenty of examples where that occurred.

With a competitive market however all that changes. Nobody's going to keep plant sitting around unprofitably just to ensure society continues to function. They're not going to pay staff, keep it maintained and so on when they could instead knock it down and sell the land. That's not the role of any company operating in the market so they don't do it.

So these days we're basically running without a backup. There's no emergency brakes, there's no insurance, if it goes wrong then out go the lights. That's nothing to do with wind and solar versus coal and gas or nuclear. It's simply a consequence of nobody being obligated to foot the bill for a technically robust system.

Nobody's forced AGL to shut Torrens Island B, indeed the SA government has paid them to delay it. Just as nobody forced Energy Australia to shut Wallerawang C. Nobody forced Alinta to shut Northern. And so on. The companies made the decision of their own accord simply because they can still generate most of the energy whilst having less capacity at remaining facilities. Trouble is, from a technical perspective that's guaranteed to put the lights out at some point. :2twocents
 
Putting some figures around this to illustrate the point and using SA as the example:

Peak demand in round figures = 3400 MW

Average demand = 1500 MW

Now if the aim is reliable supply then you won't find an engineer who comes up with anything less than about 4100 MW as being the required capacity. That allows 3400 MW to be run plus the other 700 MW to cover breakdowns etc. Even that's pushing it - most would feel more comfortable with somewhere around 4300 MW installed.

How a single utility would do that is straightforward. Build modern, efficient plant up to the point that meets routine requirements. Keep serviceable but technologically obsolete "old clunkers" on standby for use when demand spikes or breakdowns occur.

Hence if we look at it historically well that is indeed what was done. Modern plant built to suit routine requirements, old clunkers in reserve to fill the gaps when needed. And they did get used, plenty of examples where that occurred.

With a competitive market however all that changes. Nobody's going to keep plant sitting around unprofitably just to ensure society continues to function. They're not going to pay staff, keep it maintained and so on when they could instead knock it down and sell the land. That's not the role of any company operating in the market so they don't do it.

So these days we're basically running without a backup. There's no emergency brakes, there's no insurance, if it goes wrong then out go the lights. That's nothing to do with wind and solar versus coal and gas or nuclear. It's simply a consequence of nobody being obligated to foot the bill for a technically robust system.

Nobody's forced AGL to shut Torrens Island B, indeed the SA government has paid them to delay it. Just as nobody forced Energy Australia to shut Wallerawang C. Nobody forced Alinta to shut Northern. And so on. The companies made the decision of their own accord simply because they can still generate most of the energy whilst having less capacity at remaining facilities. Trouble is, from a technical perspective that's guaranteed to put the lights out at some point. :2twocents
Not forced to but AGL more than any other has been recently pushed a bit that way theu the new directors or at least.they may even be given an excuse that way.
Absolutely no one can blame them now if the lights go out.
Big corporates can also sacrifice a bit of profit to be seen doing the right thing..and avoid being slapped with more regulation or taxes, fees.
Here, we ensure the right thing is closing our backups and rising the bills.they are smilling to the banks.
Ps.not a fan of nuclear either in a country of our technical level.
Most of nuclear work is done by engineers from the older gen,who are not here anyway so it would be calling for a disaster to have that industry here manned by new graduates.
 
AGL is also losing money with gas.

Therein lies the real problem and it's not about technology but rather, it's about the industry structure.

Nobody's getting too excited about nuclear because quite simply nobody with the money to do so actually wants to build one, at least not that they've made public, and the reasons for that are much the same reasons why nobody apart from government has much interest in pumped hydro and it's the same reasons why AGL is closing Torrens Island.

In any power system, if it's to be technically robust, there will be components which are individually unprofitable on a standalone basis. Bearing in mind that which parts those are, which bits are unprofitable, will itself change over time.

Go back 40 years and Torrens Island was generating 70% of all electricity in SA with an operating capacity of 1280 MW from 8 generating units. 4 x 120MW and 4 x 200MW. The overall success of SA was extremely heavily dependent on this power station which is itself somewhat of a landmark, the two stacks being visible across much of Adelaide.

Past 12 months it contributed 7.1% to SA's electricity supply with an operating capacity of 600MW, that being 3 x 200MW which on average was just under 20% utilised.

This gets to the heart of the problem.

From a technical perspective, to maintain a reliable power system, there's an extremely strong argument to retain Torrens Island in service at least partially and that's not due to averages but due to the extremes. 5.2% of total output occurred over just 6 days during the past year and 28% occurred over two months. On those days it was indeed critical. Another way to put it is that average utilisation and revenue has dropped dramatically but the peak requirement still substantially remains. A classic example of an asset that's moved into the unprofitable stage of its life - now nobody wants to foot the bills.

SA already has a somewhat inadequate generating fleet, hence the various incidents which have occurred, and the new 800 MW interconnection with NSW goes a long way to fixing that. Trouble is, AGL is "fixing" the outcome of that new 800MW interconnection by closing 800MW of generation in SA. Or in other words, completely offsetting it.

Now from AGL's commercial perspective that's a completely rational decision. Their responsibility is to shareholders, not the public of SA, and they're acting on that basis.

It does get to the crux of the problem though and there's plenty of examples now.

A monopoly utility, regardless of who owns it be that listed, private or government, can and generally will do what's necessary to maintain technical integrity. They'll have adequate plant and just spread the cost across the customer base. Plenty of examples of that in the past, old plant retained "on standby" and it ended up running 2 or 3% of the time.

In a competitive market however that doesn't work. No company wants to own the unprofitable bits and once they become unprofitable, that tends to be game over. Hence we see closures immediately followed by demolition - and AGL has already announced that demolition will indeed quickly follow closure at Torrens Island.

End result is the present market structure will always produce a barely adequate system that's prone to failure. It doesn't matter what technology is used, it leads to the same outcome due to the industry's present structure. When it's all owned by different entities, and nobody's obligated to ensure adequate supply, the result is nobody wants to own the technically needed but financially unprofitable bits. That applies regardless of whether it's coal, gas, nuclear, oil, wind, solar, hydro or whatever.

If we want a reliable system based on renewables then it can be done. There are plenty of people capable of designing and building it. We've got plenty of land and, in the eastern states, plenty of good sites for hydro storage.

Same with fossil fuels. It can be designed and built sure.

Same with nuclear.

As a case specific to AGL, well they could replace this weir with a large (~50m high) dam:


By doing that they'd have 2.5 years' worth of water stored, rather than the 0.3 years' the store at present, and that then enables the existing McKay, Bogong, Clover and West Kiewa power stations to be repurposed for the specific role of firming wind and solar during periods of low yield. It also permits the addition of a fifth power station to the scheme.

That they haven't done it is because:

1. Financially not attractive. Their job is to make money, it's not their job to ensure the lights stay on.

2. Building dams is outside AGL's core expertise and business.

3. Fair chance they'd end up with protestors marching down the street against it and trashing the company's reputation among an uninformed public.

And so we end up with a minimally adequate system, prone to failure. We've ended up in that situation not because of renewables, it's been done with coal and gas, and we'd end up in the same with nuclear as well for the same reasons. All technologies fail when only a bare bones approach is taken to their implementation.

So long as the "fix" for someone adding more capacity, enough to make supply robust, is to then close an equal amount of capacity then we're stuck with the problem. And to be fair to the companies, so long as they're all competing for short term dispatch, literally every 5 minutes, then they're going to take that cost minimisation approach.

It's not a coincidence that the UK, upon which our market design is heavily based, is also in a mess. Not a coincidence at all - do the same thing, get the same results. :2twocents

What some of us have been saying for a while, governments have to get back into the electricity system, the market has failed.
 
Putting some figures around this to illustrate the point and using SA as the example:

Peak demand in round figures = 3400 MW

Average demand = 1500 MW

Now if the aim is reliable supply then you won't find an engineer who comes up with anything less than about 4100 MW as being the required capacity. That allows 3400 MW to be run plus the other 700 MW to cover breakdowns etc. Even that's pushing it - most would feel more comfortable with somewhere around 4300 MW installed.

How a single utility would do that is straightforward. Build modern, efficient plant up to the point that meets routine requirements. Keep serviceable but technologically obsolete "old clunkers" on standby for use when demand spikes or breakdowns occur.

Hence if we look at it historically well that is indeed what was done. Modern plant built to suit routine requirements, old clunkers in reserve to fill the gaps when needed. And they did get used, plenty of examples where that occurred.

With a competitive market however all that changes. Nobody's going to keep plant sitting around unprofitably just to ensure society continues to function. They're not going to pay staff, keep it maintained and so on when they could instead knock it down and sell the land. That's not the role of any company operating in the market so they don't do it.

So these days we're basically running without a backup. There's no emergency brakes, there's no insurance, if it goes wrong then out go the lights. That's nothing to do with wind and solar versus coal and gas or nuclear. It's simply a consequence of nobody being obligated to foot the bill for a technically robust system.

Nobody's forced AGL to shut Torrens Island B, indeed the SA government has paid them to delay it. Just as nobody forced Energy Australia to shut Wallerawang C. Nobody forced Alinta to shut Northern. And so on. The companies made the decision of their own accord simply because they can still generate most of the energy whilst having less capacity at remaining facilities. Trouble is, from a technical perspective that's guaranteed to put the lights out at some point. :2twocents
You nailed it smurf, that is exactly how a well managed system works, in a nutshell.
The problem we have now though is, your example works on the premise that the 700MW of reserve capacity is available on the press of a button and is available for as long as you need it.
The new paradigm wont that luxury, the reserve generating capacity is dependent on an unreliable generation source and there will be a limited amount of time the backup storage can last.
A snap shot of how scary that can be was shown when the Bass Link failed and Tasmania was caught with depleted water storage for their hydro, flying in diesel gensets wont be an option on the mainland the load is too big for that option.
Talk about walking into the unknown, lucky we have politicians to allay our fears and guide us through this period. ?
 
A snap shot of how scary that can be was shown when the Bass Link failed and Tasmania was caught with depleted water storage for their hydro
That one was itself absolutely a consequence of the market.

It wasn't the engineering which failed in terms of hydro storages. it was economics and free markets which stuffed the whole thing up.

Suffice to say I know the details extremely well. Had a strict engineering approach been taken, the cable failure probably wouldn't have occurred and even if it did, water levels would've been adequate.

We now see the same far more broadly. That's how we get the Snowy headwater storages 55% full after years of heavy rain and flooding downstream. Bearing mind that Snowy and HT are arguably the two most conservative operators of the lot but still not fully immune.

That's how we get to late November with the Newcastle gas storage literally empty at zero.

And so on.

Fundamentally though all of that's a failing of and an argument against short term market approaches to the whole thing. It's not a failing of technology that someone decided to not put gas in the tank, to not buy enough coal or to let more water out. That's a failing of humans chasing short term $ whilst ignoring the physical consequences of doing so.

The one bit that does relate to technology is that it's easier to fix a stuff up with fossil fuels than to fix a stuff up with hydro and renewables in general. You can buy more coal if you've messed up badly and six months later the crisis is over. You can't buy wind or rain however. :2twocents
 
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