Electricity Market Prices – Week ending 7 September 2018

Key electricity market observations for the week ending 7 September 2018:

  • Scott Morrison has confirmed to the Weekend Australia (Newspaper) that the National Energy Guarantee will not go ahead. Prime Minister Morrison said “The Neg is dead, long live reliability guarantee, long live default prices, long live backing new power generation,” Morrison said. “Largely, we are in that position already anyway, so it’s not a major shift. But we just need to put to rest any suggestion that this legislation is going ahead”.
  • Bullish conditions in the spot and futures market continued again last week with the average weekly spot price increasing in all mainland regions.
  • The average weekly spot price across all mainland regions was $118.02/MWh. Average weekly demand was softer in all regions except SA where it was marginally higher.
  • Last week there was the first uplift in Snowy Hydro water levels since December 2017. Noting that the uplift was marginal.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy