$2m payday for home battery owners as heatwave catches grid off guard

Key points

• Electricity prices in New South Wales spiked to $23,107 per megawatt hour on a Monday afternoon during a spring heatwave. Coal generators were offline and transmission lines ran below capacity, limiting supply.
• Household battery owners responded to alerts by selling stored power, and Amber Electric said about 30,000 customers earned $2 million in two hours.
• Analysts said the swings reflected a lag in the market and that more work is needed so home batteries can support grid stability.