Monitoring performance and analysing trends

The AER monitors the performance of wholesale electricity and gas markets and publishes data in reports such as the State of the energy market and the Wholesale markets quarterly.

On this page you can view and download individual charts and data tables from our most recent market performance reports. 

Highlights include:

Electricity Q1 2024

  • Average quarterly prices were higher than the preceding quarter in all regions. Prices ranged from $69/MWh in Tasmania to $137/MWh in Queensland. Weather was a key price-driver, with heat causing higher demand while a severe storm in Victoria caused network outages.
  • There was a high number of 30-minute prices above $5,000/MWh this quarter with 11 instances in Queensland. This was followed by Victoria (5), New South Wales (4), South Australia (3) and Tasmania (3). 
  • Heat and humidity drove record maximum demand in Queensland (11,055 MW) while Victoria and South Australia had record minimum demands for a Q1.
  • Frequency Controlled Ancillary Services (FCAS) costs fell this quarter. Two demand response and a virtual power plant unit entered the FCAS market. Four existing participants registered their units for 1 second services.  

  • The average quarterly price of raise 1 second service was $28/MW increasing from $20/MW in its initial quarter. This is much higher than all other services which were all below $5/MW. 
  • Base future prices fell across all regions for the remainder of 2024. New South Wales and South Australia are lower across all future quarters. 

Gas Q1 2024

  • Domestic gas spot prices remain close to 2021 levels, averaging under $12 per GJ, driven by low demand over summer.
  • Short term trade on the gas supply hub (GSH) was strong with close to 90% below $12 per GJ.
  • Record Q1 GSH trade levels were supported by record transportation quantities won on the day ahead auction.
  • Gas markets will remain vulnerable to shocks going into winter but high storage levels will mitigate these risks.
     

Annual count of 30-minute prices above $5,000/MWh

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Electricity
This figure shows the annual number of 30-minute intervals where the spot price for electricity has exceeded $5,000/MWh.

Gas market prices

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Gas
Financial year average prices are shown for the Victorian gas market, STTM hubs in Adelaide, Brisbane and Sydney, and the Wallumbilla Gas Supply Hub (GSH) at SEQ and WAL trading locations.

Quarterly local FCAS prices by services - Queensland

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Electricity
This table shows the quarterly maximum, minimum and average prices for each local FCAS service in Queensland since 2010.

Quarterly local FCAS prices by services - South Australia

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Electricity
This table shows the quarterly maximum, minimum and average prices for each local FCAS service in South Australia since 2010.

Quarterly local FCAS prices by services - Tasmania

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Electricity
This table shows the quarterly maximum, minimum and average prices for each local FCAS service in Tasmania since 2010.

Day Ahead Auction - Auction delays

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Gas
This figure shows auction delays resulting from late data submission.