Sep-20 Energy Market Wrap

Sep-20 Energy Market Wrap

Introduction

Records tumbled during September in the National Electricity Market. Average spot prices plummeted across the NEM, with QLD, SA and VIC experiencing record levels of negative prices. SA setting a record low monthly price of $15.21/MWh during September. The remaining regions all saw the lowest September average prices in the past 6-10 years resulting in a weighted average price across the NEM of $33.20/MWh for September.

Intermittent generation levels were at record levels across the NEM. QLD and TAS both recorded record levels of wind generation while the other three regions all recorded record levels of intermittent generation for the month. QLD, VIC and SA all saw record low demand during the month, pushing baseload generation to record levels.

Gas Market

The average wholesale gas prices increased again in QLD for the third month running, with an average price just above $5/GJ. The southern states saw gas spot prices fall during September, VIC recording the lowest average gas spot price at just below $4/GJ.

Electricity Forward Market

Electricity forward prices softened across the NEM during September, VIC and SA seeing the largest movements. VIC Cal-21 softened by $4/MWh during the month, while SA fell by more than $6/MWh.

LGC Spot prices

LGC price had been steadily rising during the past two quarters with the spot price nearing $50 per certificate in mid-September, before tumbling to $42 per certificate by month-end.

Market News

It was a big month in the news for the energy markets with many important and developments. We have five pages recapping everything you need to know for September.

Special Features

  • Power Purchase Agreement pricing history
  • Energy Security Board releases the Post 2025 Market Design Consultation Paper
  • New generation project onboarding
  • Wind generation capacity factors across the NEM


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