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Wholesale electricity prices track gas exposure, not renewables share. (janrosenow.substack.com)

submitted 5 days ago by silence7@slrpnk.net to c/energy@slrpnk.net

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What this means is that wholesale price doesn't drop until gas -burning power plants are not being used. So it takes quite high renewables+ battery deployment to lowe wholesale price.

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[–] silence7@slrpnk.net 2 points 4 days ago (1 children)

Wholesale electricity markets tend to be set up like this:

Companies submit bids for each unit of time
The lowest set of bids for any given unit of time get paid and supply electricity
The highest of those low bids sets the price that every generator gets paid

This causes the marginal supplier price to set prices for everybody. So long as any gas is being burned, they're usually the marginal supplier, so the price of gas sets the price.

[–] MasterBlaster@lemmy.world 1 points 4 days ago

Yes, I know. Like I said, "can't" do the math expected of their employees for their work. Theare able to measure the kilowats going into millions of homes, but can't measure the kilowatts they consume. So they get potentially 90% of the electricity dirt cheep, but charge everybody as if they paid the highest price on the market for all of it.