Key gas observations for the month ending 15 July 2019:
There was a unplanned outage at one of the units at Origin’s Mortlake gas power station on 8 July. Origin released a statement advising there was no harm to people, however, the damage to the plant was relatively material. Origin announced that it will bring the unit at the gas power station back online (Origin). With the tight supply and demand balance in the VIC electricity market, the outage did result in a upward reaction in the futures market.
Santos released its second quarter activities report highlighting relative record production and sales revenues (Santos).
The ACCC netback price as of 16 July was AUD$6.11/GJ. Forward prices currently sit below this in August and September and then increase in October (AER).
Of the STTM’s, Adelaide had the highest average gas price (Ex-ante) at $10.17/GJ. This was $0.42/GJ higher than the same period in 2018.