The NEM Q3 average price finished the highest since the 2022 Energy Crisis despite extremely low September prices for VIC and TAS. In SA, volatile winds drove volatile spot prices, while mild days with high VRE crushed prices in VIC and TAS. Meanwhile, NSW and QLD had above average price levels.
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1.0 Highlights
This section summarises the key spot market outcomes for the month.
1.1 Spot Market Insights
Average wholesale electricity spot price softened across the NEM in September with all regions recording the lowest monthly average price for Q3-24. Record levels of Variable Renewable Energy generation contributed to record high levels of negative spot prices in September. In contrast to recent months, more than 70 percent of spot price outcomes in the NEM were below $300/MWh.
