AER to release latest market reports, key findings

default offer

This month the AER is releasing its latest assessment of recent developments in retail and wholesale energy markets.

At the AER’s Market Performance Forum in Melbourne on November 27, 2019, AER Chair Clare Savage will launch the latest annual retail markets report and the wholesale electricity and gas markets quarterly report.

In the lead up to the forum, the AER has published the quarter three 2019 report on the performance of the wholesale electricity and gas markets.

Related article: Western Power’s new policy is the bees’ knees

Key findings 

Key findings in the wholesale electricity and gas markets quarter three 2019 report include:

  • In most regions, there were lower average wholesale electricity prices than this quarter last year
  • Wholesale electricity prices were lowest in Queensland and highest in Victoria
  • There was a continued increase in wind and large-scale solar generation which contributed to a record number of negative wholesale prices in South Australia and Queensland
  • Brown coal generation in Victoria was at its lowest levels since the start of the NEM, which was driven by generator outages
  • Gas generation increased in all mainland regions
  • On average, gas and black coal generators set lower prices, coinciding with falling fuel prices
  • Gas commodity spot prices fell in line with falling Asian LNG spot prices
  • There was continued growth in gas spot market trade and increased market participation
  • Flows of gas from northern to southern markets reached record levels over winter, as gas production reached new highs
  • In addition, the new Day Ahead Auction of pipeline capacity provided low-cost opportunities to transport gas from north to south, leading to lower spot market prices in Sydney and Victoria.

Related article: SA virtual power plant supporting grid and participants

Previous articleWestern Power’s new policy is the bees’ knees
Next articleSydney Markets home to country’s largest private sector rooftop solar setup