May 10, 2024
The Kaka
Bernard Hickey: Why we almost blacked out and how to fix it

Yesterday I spoke to Rewiring Aotearoa CEO Mike Casey and Octopus Energy NZ Chief Operating Officer Margaret Cooney about the current state of our electricity market and what could be done to fix it. Casey talked about how he earned extra money by exporting power into the grid at sky-high prices from the solar panels and batteries he installed to fully electrify his cherry orchard in Cromwell. Cooney talked about how Octopus Energy UK pays customers to reduce demand and uses automation to match supply and demand. She also talks about a way to make the market more competitive and viable for independent retailers buying from the wholesale market.

Why we almost blacked out and how to fix it by Bernard Hickey

Our power system almost blacked out because gentailers chose dividends over building 1.5 GW of already consented wind farms. Making the market competitive & unleashing solar + batteries might fix it

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