I have done a lot of research on Reposit power and RFX. I...

I have done a lot of research on Reposit power and RFX. I certainly am not dismissive about this technology and it's very exciting. At grid level storage, Ergon and many other distributors are checking out the viability of peaking power from battery. Many distributors are checking out 1 MW and 2 MW batteries to help alleviate large peaks reducing the spot price. This is certainly going to have an impact on EPW's Oakey peaking plant in QLD but bear in mind that EPW sold all of its less efficient peaking plants (Braemar) and there is a lot of gas generation in QLD. EPW is well positioned to manage the risk in fact the reduction in peak prices could help EPW in the future as it has a large retail portfolio that is growing very fast. As mentioned in a previous HC post QLD may not see spot prices of $1500/MWh but EPW is profitable above $50/MWh.

Please check further on EPW's portfolio of clients. For the most part EPW is a ticket clipper and sells and manages electricity for business customers. Your post is largely specific to the Oakey gas peaking plant and how that revenue could decrease. From a retail perspective its actually better if EPW can manage its risk by having a plant like Oakey in case spot prices do go insane like they have largely due to mining projects rolling on in QLD and the various LNG projects. (APLNG)

Furthermore EPW is probably going to compete with Reposit power as it acquired Greensense which does smart electricity management. Another source of growth is Source Power & Gas (SPG) in the United States. EPW acquired a pretty poorly managed electricity retailer cheaply and are now rolling out a decent CRM system to manage the clients. Even though residential power consumption may decrease in the long term they have such a small marketshare in Texas and some of the other states they operate in that they stand to make a small fortune from SPG retailing.

Lastly, in case my post wasn't long enough already , Zinc-Oxide, Lithium and Lead-Acid batteries cannot seem to go under the $300/kWh mark. It's possible they may in 5-7 years but EPW is transitioning as a company and will have new revenue sources such as the ones stated above.

I do share your sentiment, I think EPW SP has been hit hard enough to factor in a heap of risk and I would be wary buying the likes of AGL and ORG at this current price due to their large portfolio of home/retail electricity accounts.