this post was submitted on 05 Nov 2023
46 points (94.2% liked)

AusFinance

1140 readers
21 users here now

founded 2 years ago
MODERATORS
lodion@aussie.zone
Los@beehaw.org
46
Consumers tapping the spot power market are cleaning up, covering 'a month's bill' in a night (www.abc.net.au)
submitted 2 years ago by MHLoppy2@aussie.zone to c/ausfinance@aussie.zone
12 comments fedilink hide all child comments
 

Mr Purcell admits he initially bought his battery as a form of insurance against the volatility inherent in the spot market.

However, his thinking quickly changed when he saw the opportunities on offer, describing one instance in which he was able to fill up his 10-kilowatt-hour battery with electricity costing 1 cent per unit.

"That's the opportunity and the risk on the very low prices," he said.

"It cost me 10 cents to fill the battery during the middle of the day.

"And then at night-time the price went up over $10 a kilowatt hour, so I was able to export that same 10 kilowatts out of that battery for $100."

you are viewing a single comment's thread
view the rest of the comments
[–] min0nim@aussie.zone 1 points 2 years ago

I can imagine this becoming a full time job itself, just to make sure you don’t get absolutely mauled when the spot price goes through the roof.