VICTORIA

Over the past month, Victorian wholesale electricity futures prices for calendar year 2022 have eased by approximately 7%.  This reduction is likely due to an improved power generator reliability outlook for summer 2021-22 as well as record-breaking reductions in electricity demand following periods of high renewable and rooftop solar PV generation.  Electricity futures prices continue to trade much lower relative to mid-late 2019 and earlier.

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NEW SOUTH WALES

 

Over the past month, New South Wales wholesale electricity futures prices have remained relatively stable across all calendar years.  Electricity futures prices continue to trade much lower relative to mid-late 2019 and earlier.

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Since the explosion at Callide power station in June this year, Queensland wholesale electricity futures prices for calendar year 2022 have remained substantially higher than later years as generator availability remains a concern.  It was recently announced that recommissioning of the damaged unit will be delayed from December 2021 to February 2022.  If delays persist beyond this point, it is possible we will see more price volatility in the market for calendar year 2022.  Electricity futures prices continue to trade much lower relative to mid-late 2019 and earlier.

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QUEENSLAND

 

Over the past month, South Australian wholesale electricity futures prices for calendar year 2022 have eased by approximately 5% for largely the same reasons observed in Victoria.  The 2022 calendar year futures price in South Australia has now broken lower than the 2024 calendar year price for the first time since late April this year.  Electricity futures prices continue to trade much lower relative to mid-late 2019 and earlier.

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SOUTH AUSTRALIA

 

Over the past month, South Australian wholesale electricity futures prices for calendar year 2022 have eased by approximately 5% for largely the same reasons observed in Victoria.  The 2022 calendar year futures price in South Australia has now broken lower than the 2024 calendar year price for the first time since late April this year.  Electricity futures prices continue to trade much lower relative to mid-late 2019 and earlier.

WESTERN AUSTRALIA

 

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