Australian Power Prices Surge As The Country Attempts To Replace Coal ...Middle East

The energy transition in Australia is driving electricity prices higher due to increased volatility, Bloomberg has reported, citing a BHP executive. “It’s a nervous time to be a major consumer of electricity on that particular grid,” Huw McKay, chief economist of the mining giant, told Bloomberg. Australia is trying to replace coal power generation with alternatives such as solar, but this process appears to have compromised the reliability of electricity supply, leading to the greatest daily price fluctuations in the world…

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