BREAKING (literally): loy yang b (coal), recently sold for $1.3bn, tripped at ~4.30pm:
• instantly removed 528MW of power
• ⬆️ price 15,000% to $13,000/MWh+
• dragged frequency ⬇️ to 49.70Hz, below 'excursion band'
• pushed VIC into ‘lack of reserve level 2’
#coalfail
@JoshFrydenberg Minister, major coal stations have conked out in both Vic & NSW, sending prices up. How does your proposal to strangle renewable investment with the NEG solve that problem?
@JoshFrydenberg Is this your way of saying that we should never rely on coal-fired power stations? The fact two tripped today is the reason for the market spike!
BREAKING (literally): loy yang b (coal), recently sold for $1.3bn, tripped at ~4.30pm:
• instantly removed 528MW of power
• ⬆️ price 15,000% to $13,000/MWh+
• dragged frequency ⬇️ to 49.70Hz, below 'excursion band'
• pushed VIC into ‘lack of reserve level 2’
#coalfail
"Unions are dying in Australia. Membership is down to about 15%. They’re dying because young people don't think there's any benefit to joining them" @apatrickafr #TheDrum