Western Australia’s government-owned Synergy has an unusual position in the electricity market: it owns some of the state’s biggest batteries, as well as generators selling electricity into the same market.
New analysis has found its batteries sometimes charging at surprisingly high wholesale prices in the middle of the night, helping push those prices even higher. On the one hand, Synergy is paying more to charge its batteries. On the other hand, its generators could benefit from higher wholesale prices.
The prices discussed in this article are wholesale electricity prices. Individual price spikes don’t flow directly through to the regulated tariffs that most WA households and small businesses pay. But persistently higher wholesale costs can ultimately affect the cost of supplying electricity in WA.
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