Dec-22 Energy News Bytes

In 2024, record new generation capacity joined the electricity market. Wind weighted prices were at record lows for all regions except SA, while higher daytime prices improved solar farm performance across the NEM. Broader ranges in operational demand across regions intensified market volatility.

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.

The NEM expanded its capacity by 121MW in November. Warm temperatures plus extended baseload outages contributed to tight supply-demand balance, driving exceptional NEM Generator-weighted Average price growth in November, with NSW and QLD leading gains.