Electricity Market Prices – Week ending 7 December 2018

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

  • Temperatures across the east coast of Australia are starting to increase. On Friday temperatures in Adelaide and Melbourne reached 38 degrees and we saw high demand which pushed up spot prices.
  • Water levels at Snowy Hydro have plateaued and are currently sitting at 27%. The Bureau of Meteorology (BoM) is forecasting between 25 mm and 100 mm of rain during December which, if it falls, will have only a small impact on water levels.
  • On Friday at 3.30pm there was a $2,068.88/MWh price spike, representing a 9% increase. Taking a closer look, we observed on Thursday and Friday a 17% and 30% increase in average daily demand respectively.

Queensland

New South Wales

Victoria

South Australia

Source: AEMO / ASX Energy