Electricity Market Prices – Week ending 12 October 2018

Key electricity market observations for the week ending 12 October 2018:

  • The AEMC today published an assessment of generator rebidding in the national electricity market. The analysis found that rebidding is contributing to the delivery of efficient outcomes but can be a problem if there is a lack competition between generators.
  • The forward price for 2019 continues to increase as fears around system security, adequacy of supply and stressed buyers increases. Since the start of the financial year, forward prices across all mainland states in the National Electricity Market has been increasing. For 2019, the prices have increased by between $8.35/MWh and $18.78/MWh from 1 July 2018 to close of business 9 October 2018.
  • The QLD Government continues to push ahead with CleanCo which will be a third Government owned energy company. CleanCo has been established to secure a cleaner, more affordable, sustainable and secured supply of energy for QLD. The QLD Government is currently claiming that the third generation company will reduce QLD wholesale energy prices by $7.00/MWh.
  • Water levels continue to increase at Snowy Hydro however remain low at 22.8% capacity. Rainfall last week was largely concentrated on the coast, however there was some fall in the Snowy catchment area.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy