Electricity Market Prices – Week ending 28 September 2018

Key electricity market observations for the week ending 28 September 2018:

  • On Wednesday the interim CEO at AGL, Brad Redman, confirmed the “Gentailers” commitment to close Liddell power station in 2022. With the sudden resignation of Andy Vesey, the market questioned whether AGL would stay firm on this strategy.
  • The AEMC released new technical standards for generators to improve reliability and affordability of energy in the NEM. The changes to the standards are in regard to technical performance standards for generators seeking to connect to the NEM and the process for negotiation.
  • The Bureau of Meteorology updated their 3 month rainfall outlook on Thursday. Within the Snowy Hydro catchment region rainfall outlook remained similar to the previous forecast which estimated below average rainfall. More broadly, western NSW chance of exceeding the average improved whilst VIC moved in the opposite direction. Temperatures are expected to be higher than the average over the same period which if it eventuates, is likely to push up demand.
  • The overall volumes of futures traded on the ASX was generally down last week with 2019 and 2020 CAL year strips increasing in price.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy