The Conversation - Australian Experience Looks to be Matching Ontario's

Another article from Australia which displays similarities to Ontario in shrinking demand, declining market prices and escalating retail rates.    

The Conversation:

"In reducing my demand, I effectively create an oversupply in the market. And, as with any efficient market, prices respond with a signal to reduce supply. In fact recent market trends show that in addition to reducing the revenue in electricity sold by about $4, my turning off one 75 watt globe reduces the revenues of all other electricity sold by more than $10 across the year. So the net impost on the generator’s revenue is more than $14, most of which is profit.
Still not too much of a worry, unless of course I am not alone. Multiply my action by 7 million, or about 1 in every 3 Australians, and generator revenue would be down more than 100 million dollars on a net reduction in demand of 65 megawatts. That is about 1% of expected annual wholesale market bottom line, but a much higher percentage of generation profits. Multiply that again by a factor of 10, and we are talking of losses in the billions, and a potential bankrupting of some leading industry players.
And it is already happening."

Read the entire article at The Conversation: