Electricity Market Prices – Week ending 23 November 2018

Key electricity market observations for the week ending 23 November 2018:

  • The Federal Labor party released details of its plan on energy policy and climate. The party remains committed to its 50% renewable energy target by 2030. Bill Shorten has committed to investment in new generation, most likely through the Clean Energy Finance Corporation. However, at this stage mechanisms for investment are vague.
  • QLD spot prices were pushed up as a result of a constraint placed on the NSW1- QLD1 interconnector throughout the week.
  • The Snowy Hydro catchment area received between 5 mm and 25 mm of rain last week, which coincided with a small uptick in the water levels at Snowy Hydro which are now sitting at 26.2%.
  • The Labor Government was convincingly re-elected in the State election. The election of the Labor government is a clear signal that the people of VIC consider moving to renewable generation a high priority.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy