Electricity Market Prices – Week ending 15 March 2019

Key electricity market observations for the week ending 15 March 2019:

  • The Clean Energy Regulator confirmed the legislated amendment last week for the Small-scale Technology Certificate (STC) and Large-scale Generation Certificate (LGC) surrender percentage. For STCs, this means that liable entities are required to surrender approximately 37.5 million (aggregated) STCs to meet their Small-scale Renewable Energy Scheme (SRES) obligations for 2019. This figure is derived by adding 7.9 million STCs to the estimated 29.6 million STCs in 2019 (see below for how this is determined). The 7.9 million STC adjustment is the difference between the previous year’s STC creation and the actual number of STCs surrendered in those years. Liable entities that do not surrender sufficient STCs to meet their obligations are required to pay a non-tax deductible shortfall charge (http://www.cleanenergyregulator.gov.au/).
  • There was no immediate reaction in the STC market due to the uplift in surrender percentage as it was widely expected.
  • Oakey 1 Solar Farm came online for the first time, generating up to 12 MW on Thursday and Friday.
  • NSW imported an average of 336 MW throughout the week from QLD through the NSW1-QLD1 interconnector. Although, there were times when QLD imported energy from NSW.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy