Electricity Market Prices – Week ending 1 March 2019

Key electricity market observations for the week ending 1 March 2019:

  • QLD weekly average spot price and demand were $69.00/ MWh and 6,377 MW respectively. Mild temperatures in Brisbane meant that the average demand was 532 MW below that of the previous week.
  • NSW weekly average spot price and demand were $75.71/ MWh and 7,776 MW respectively. Mild temperatures saw average demand decline by 369 MW and spot prices by $14.37/MWh. With the exception of Liddell and Eraring, all NSW baseload power stations operated with all units online.
  • The NSW Labor party has made a pre-election commitment to deliver 7 GW of renewable generation by 2030 and 4 GW within their first four years in office should they be successful at the upcoming election. The party has advised that they would utilise reverse auctions and create a government owned generation company to deliver the promised 7 GW of new generation.
  • SA weekly average spot price and demand were $241.93/ MWh and 1,743 MW. SA experienced warm temperatures throughout the week consistently reaching the high 30’s and then on Friday reaching 41.8 degrees (Adelaide).
  • VIC weekly average spot price and demand were $235.36/ MWh and 5,377 MW respectively. The average spot price and demand were $125.97/MWh and 785 MW higher than the previous week respectively.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy