Electricity Prices

​​​​​In November 2025, we observed that Queensland’s electricity market continued to experience moderate volatility as warmer conditions arrived and renewable output fluctuated across the month. Daytime wholesale prices remained relatively low due to strong rooftop and utility-scale solar generation, while evenings remained the most challenging period, with sharp price increases occurring once solar output fell away. Coal and gas-fired generators continued to provide essential support during these high-demand hours, helping stabilise supply but maintaining elevated evening price pressure.

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Generation Mix

Across November, Queensland’s electricity supply continued to be dominated by coal and gas, supported by strong daytime solar and variable wind generation. Renewables contributed a meaningful share of total supply, particularly during clear, sunny days when rooftop solar output surged. Several new factors influenced November’s generation mix and market behaviour:

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• Gladstone Unit 4 remained offline, continuing to limit coal-fired capacity and tightening supply during high-demand periods.

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• Localised network congestion persisted, particularly during hot afternoons in southern and central Queensland, contributing to brief but significant price spikes.

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• Solar output remained strong, keeping daytime prices low, though early-morning cloud cover on several days created short-lived price jumps.

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• Wind generation fluctuated, with softer output in the middle of the month requiring greater reliance on gas-fired generation.

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• Battery activity increased, with storage sites continuing to charge during low-cost solar hours and discharge during evening peaks to help reduce volatility.

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These dynamics contributed to a similar pattern throughout November: low daytime prices driven by solar, followed by tight supply and higher prices after sunset.

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Futures Pricing

We saw South Australia’s forward electricity prices in November remain fairly steady, with only moderate fluctuations compared to previous months. Daytime prices were supported by strong solar output, keeping costs lower during the middle of the day. Evening peak prices stayed higher, driven by declining solar and wind generation and higher demand after business hours.

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Overall, the market looks a little more stable heading into summer, but businesses should be aware that electricity costs can still rise during peak periods when supply is tighter.

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what it means for your business

We see South Australia as one of the more stable electricity markets in the NEM, but businesses with high evening or continuous energy demand, including manufacturing, food processing, and data centres, still need to plan for potential short-term price spikes.

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Maintenance at gas generators and network congestion adds further uncertainty, so relying solely on spot market prices could expose businesses to sudden cost increases. By monitoring market trends, validating metering data, and planning procurement strategies, we can help businesses reduce risk, improve cost certainty, and optimise energy usage.

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If your business is unsure whether it is positioned correctly for summer, we can help. Contact us for a free bill check or to discuss a tailored energy procurement plan.