The energy market was under considerable stress during 2024, leading to higher electricity spot prices. The pain was particularly felt towards the north with QLD and NSW recording their second-highest average prices after the 2022 Energy Crisis.
Our Annual Market Report has been divided into 3 parts. This part focuses on Spot Prices where trends and insights have been drawn and displayed using engaging interactive charts. The other parts will be Generation & Demand, followed finally by Financial Markets (power and environmental certificates) which will be released shortly.
As can be seen by the Table of Contents, we begin recapping the history of prices to set the scene, before undertaking further analysis of looking at Risk-of-Change, Price Distributions, Pricing Bands, Negative Prices and Intraday Price profiles. This analysis is followed by three more sections covering Extreme Price Prediction, Ancillary Service Costs, and finally Gas Market Prices.
1.0 Overview
This section summarises the key outcomes for 2024.
