.
New South Wales wholesale electricity prices hit more than twenty-three thousand dollars per megawatt hour this week.
At that price, you’d expect the electricity to arrive personally, wearing a suit and apologising.
First, breathe: that was a short-lived wholesale market price, not the rate automatically charged on everyone’s household bill.
On Monday, heat pushed up demand while coal-generator outages and transmission constraints limited available supply.
Four of the state’s twelve coal-fired generating units were offline, with another two operating at reduced capacity.
Meanwhile, network restrictions meant some renewable generation and battery capacity couldn’t deliver power where it was needed.
Having electricity available somewhere is useful. Getting it to your air conditioner is the crucial second step.
Then household batteries entered the picture.
Some owners on suitable electricity plans exported stored power during the price spikes.
Amber Electric says around thirty thousand customers collectively earned two million dollars in two hours.
Finally, something in the garage contributing financially instead of requiring registration and new tyres.
But that payday needs perspective. Returns depend on your equipment, electricity plan and available charge. One dramatic afternoon doesn’t establish what a battery will earn every year.
And there’s a coordination challenge.
An expert quoted by the ABC said household batteries responding to changing prices appeared to contribute to rapid swings in supply and prices.
Imagine thousands of drivers following the same satnav shortcut. The shortcut eventually develops its own traffic problem.
My view? This episode shows why the energy debate needs more detail than competing slogans.
We need dependable generation, storage, stronger connections and systems that coordinate them.
Households helping supply the grid is promising. But renters and people who can’t afford batteries also deserve reliable, affordable electricity.
Governments should explain how investment will deliver those benefits across the community.
Because a battery earning money is good news.
A grid that doesn’t have a financial panic whenever spring gets sweaty would be even better.
Craig Hill is a Brisbane-based author, journalist, teacher, business consultant and social justice campaigner. He is the General Manager of the Australian Book and Language Studio.
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