Energy Market Update May 2013

Energy Market Update

Electricity prices are continued to rise through to mid-2014 due to infrastructure upgrades required to meet increasing peak demand and market control by three major retailers (1,2,3). The Committee for Economic Development of Australia included in their recent Economic and Political Outlook of 2013 a forecast of where electricity prices will be in 2020 (4,5). The committee calls for price deregulation, competitive metering services with smart metering and time-of-use pricing, and demand side reform.
Gas prices are also predicted to rise as exports drive the prices up (6).
Businesses worldwide are recognizing the importance of energy efficiency. Wal-mart has announced a plan to reduce the kWh per square foot energy intensity required to power Walmart’s buildigns globally by 20% compared to 2010 levels and be supplied 100% by renewable energy (7).

 

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