Electricity spot prices remained high across the NEM in July as very low temperatures drove strong demand. SA experienced extreme price volatility late in the month as cold temperatures coincided with very low wind generation. East Coast gas spot prices also remained high averaging above $13/GJ.
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1.0 Highlights
This section summarises the key spot market outcomes for the month.
1.1 Spot Market Insights
Sustained high spot prices around $300/MWh continued during July. These sustained high prices were accompanied by periods of extreme prices in the second half of the month when very cold temperatures coincided with very low wind generation. High prices during July pushed the average year-to-date price for SA and TAS above $100/MWh leaving VIC as the only region below $100/MWh but only by a fraction.
