Record levels of renewable energy push demand for electricity to all-time low for December quarter

Increased output from renewables, with a near-zero fuel cost, also nudged more coal and gas out of the generation market

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Milder temperatures and record levels of renewable energy drove electricity demand to its lowest levels for any December quarter, according to the Australian Energy Market Operator.

Wholesale power prices also retreated during the period, particularly after the Albanese government imposed price caps on black coal and gas that are used to generate power, AEMO said in its quarterly report released on Wednesday.

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