Carl Daley

This is the first part of our Annual Market Report and focuses on spot prices where not surprisingly, 2022 set records across all regions of the NEM.

November was another busy month in the energy markets. Energy news and announcements were very prevalent in the media, many of which were covered in our busy November edition of Energy Market Bytes with some of the highlights included in the Market Report below.

Structural market changes were announced by Federal and State Governments. More prominent Government ownership and the acceleration of expanded transmission all featured. Forward market prices were extremely volatile during the month but appear to have peaked.

Following an unprecedented second quarter in the energy market, the third quarter settles down, but finished as the second-highest price period in the market's history. Forward market prices continue to rise.

After a tumultuous winter for the Australian energy markets, the electricity and gas spot markets simmered down during August.

As July drew to a close, rays of light penetrated from the 2022 Energy Crisis. Market conditions are easing, but it may be a temporary phase emerging from the winter.