El Nino: Snowy to Hold Water Back
Following the Bureau of Meteorology's recent announcement that the coming El Nino cycle is likely to be the worst since the 1997-98 cycle, Snowy Hydro have confirmed plans to restrict outflows from its catchment in order to safeguard against shortfalls of supply in the future.
What does this mean for electricity prices? Well, on average, the Snowy Hydro generation accounts for approximately 4,500 GWh per year, so any reductions to their generation will have a material impact on supply to both Victoria and NSW.
Furthermore, any limitations in supply can result in stress on other water reliant generators (e.g. thermal coal).
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