Wholesale electricity price spikes in Queensland triggers regulator report

The Australian Energy Regulator (AER) monitors and reports on events and causes that result in wholesale electricity spot prices in the market exceeding $5000 per megawatt hour (MWh).

The wholesale electricity spot price in Queensland exceeded $5000/MWh on two occasions on Thursday 2 February, reaching $6456/MWh at 5 pm and $13 400/MWh at 5.30 pm.

The AER’s role in monitoring wholesale energy markets and reporting on high price events helps to enhance market transparency and compliance. Our analysis also provides a foundation to detect non-compliance, market irregularities, inefficiencies and consumer harm. We draw on this work to advise the COAG Energy Council, other stakeholders and market bodies on wholesale market issues.

We expect to publish the report within 40 business days, by 3 April 2017 on the AER’s website.

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In addition to reporting on these high price events, the AER will shortly be publishing reports on the following previous high price events:

Expected publication dates for recent high price events
Event Event date Region Expected publication date
FCAS 18 October 2016 SA March 2017
  9 November 2016 SA March 2017
  25 November 2016 SA March 2017
Energy 13 January 2017 QLD 14 March 2017
  14 January 207 QLD 14 March 2017
Sector: 
Segment: 
Issued date: 
3 February 2017
AER reference: 
09/17