While most Australians are stuck with inflated fixed-rate power prices, some are saving money by playing the spot market. So how are they doing it, and why isn't it for everyone?

Mr Purcell admits he initially bought his battery as a form of insurance against the volatility inherent in the spot market.

However, his thinking quickly changed when he saw the opportunities on offer, describing one instance in which he was able to fill up his 10-kilowatt-hour battery with electricity costing 1 cent per unit.

“That’s the opportunity and the risk on the very low prices,” he said.

"It cost me 10 cents to fill the battery during the middle of the day.

“And then at night-time the price went up over $10 a kilowatt hour, so I was able to export that same 10 kilowatts out of that battery for $100.”

  • 🦘min0nim🦘English
    1·
    1 year ago

    I can imagine this becoming a full time job itself, just to make sure you don’t get absolutely mauled when the spot price goes through the roof.