Electricity Market Prices – Week ending 10 August 2018

Key electricity market observations for the week ending 10 August 2018:

 

  • On Friday 10 August, the COAG Energy Council met in Sydney where the Energy Security Board (ESB) presented the final detailed design proposal for the National Energy Guarantee (NEG). Ministers agreed to the release of the exposure draft of the National Electricity Law amendments, which would implement the NEG, following confirmation at a Council teleconference on 14 August. On 14 August, Mr Turnbull will attempt to get support from the Coalition for the NEG, which was a key requirement from the Labor states (and territories) who were not willing to agree to the NEG without it first being approved by the Coalition. It is difficult to say if Mr Turnbull will be successful on Tuesday given the strong divide within the Coalition.
  • 2019 Forward prices across the NEM pushed up as water levels at Snowy Hydro continued to decline.
  • SA had large amounts of generation from wind and numerous negative spot price outcomes.
  • Bayswater and Liddell power stations both finished the week operating on 2 out of 4 units.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy