Electricity Market Prices – Week ending 17 August 2018

Key electricity market observations for the week ending 17 August 2018:

  • On Wednesday 15th August, the COAG Energy Council released a draft of the proposed changes to the National Electricity Law, that would implement the National Energy Guarantee (NEG).
  • Malcolm Turnbull has indefinitely postponed plans to legislate the emissions reduction target under the National Energy Guarantee. In addition to this, he has released a range of regulatory powers which aim to lower energy prices. The new policy from the Prime Minister will be put to the Coalition on Tuesday 21st August for approval.
  • Origin Energy recorded a strong profit largely contributed to the spin off of Lattice Energy, higher wholesale prices and APLNG. Despite the strong performance the diverse energy company share price softened as investors are concerned about political instability and the threat of government intervention in the market.
  • RCR Tomlinson shares continued to remain on a trading halt. The company voluntarily put shares into a trading halt on 30 July 2018, due to an overrun on costs on a project and their impact of FY18 earnings.
  • Forward prices generally softened last week after several weeks of price increases.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy