Feb-24 Financial Market Report

Jay Ros, Heather Wang, Eric Chan, Carl Daley

Forward prices rallied in QLD and NSW during February as a result of strong demand and high spot prices. VIC prices were affected by the massive power outage on 13 Feb with the Q1-24 price jumping $20/MWh. In contrast, SA forward prices continued to free fall with all tenors approaching $80/MWh.

This part of our Monthly Report concentrates on the financial aspects of the energy market. The Highlights section draws out the key movements, and the second half of the report outlines the charts and tables for further perusal.

1.0 Highlights

This section summarises the key market financial outcomes for the month.

This post is for paid members only

This post is for members only

Already have an account? Sign in

Mar-24 Generation Report

Heather Wang, Jay Ros, Eric Chan

Q1-24 marked the first time in six years that the NEM had no new generation connections. March also saw lower generation and GWA prices for wind and solar farms across most NEM regions, except for SA. Curtailment of VRE was in seasonal decline but remained high for March in SA and VIC.

11 min read Apr 16, 2024

Market Report paid

Mar-24 Financial Market Report

Jay Ros, Carl Daley, Eric Chan

The electricity forward market rallied in the southern states as news of potential gas shortages for Victoria circled in the media. Q1-25 traded most heavily during the quarter, especially for QLD which remains stubbornly high despite the return of Callide C3 and the expected return of C4 this July.

6 min read Apr 10, 2024

Market Report paid

Mar-24 Spot Market Report

Jay Ros, Carl Daley, Eric Chan

March was the least eventful month for Q1-24, with lower spot prices for most of the month apart from a Labor Day long weekend heatwave for VIC and SA, and some oppressive humidity hitting QLD later in the month. Both occasions coincided with low levels of VRE resulting in high price volatility.

15 min read Apr 9, 2024