For Australian energy, 2020 started precariously.  The bushfires showed the vulnerability of the nation to its subsidy-induced reliance on renewable energy.    

Average prices in January reached near-record levels.  In addition, the market manager was forced to intervene spending over four times as much as normal — $310 million — buying services and compensating suppliers in order to stabilise the system.   

In February, low demand, an influx of renewable energy, and high supplies of hydro brought about a halving of the previous month’s prices.