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Leigh Creek Energy Limited - SA`s electricity price crisis offers opportunities
Lack of baseload power, heavy reliance (40%) on renewables - particularly intermittent wind power, high demand, and a failure of the Heywood interconnector with Victoria, saw wholesale electricity spot prices in South Australia (SA) skyrocket in July to A$14,000/MWh - more than 180x typical levels of ~A$75/MWh. As a measure of the crisis, SA Treasurer Tom Koutsantonis had to request Engie (a French-owned company)