Tasmania’s average spot price for February was the highest in the NEM, despite exceptionally low demand and accounted for almost half of all FCAS cost for the month. East coast gas spot prices remained high at around $13.50/GJ for the DWGM, and $12.50/GJ in Victoria’s STTM.
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1.0 Highlights
This section summarises the key spot market outcomes for the month.
1.1 Spot Market Insights
The TAS average spot price of $121.69/MWh was the highest for the NEM during February, despite having the lowest energy consumption for February since 2016. Basslink was very constrained during the month, more than 55% of the time, with no high price volatility and the spot price sat just above $120/MWh for long periods throughout the month. In the north, QLD and NSW prices were softer compared to the previous month, while in contrast, VIC and SA prices were much higher than their very low January levels due to a few extreme price events.
