Sector
Electricity
Gas
Segment
Wholesale
Categories
Quarterly report
Event date
Release date

The AER’s wholesale markets quarterly report analyses trends in the electricity and gas wholesale markets, focusing on the most recent quarter and alerting participants and stakeholders to issues of concern. 

Our quarterly reports focus on wholesale energy prices and their drivers, including demand, generation, offers, contracts, market outlook and new entry and exit.

Insights – January to March 2025

Energy market outcomes over summer were mixed, highlighting the complex relationship between weather conditions, shifting demand profiles and the diverse mix of generation types in the NEM.

Electricity prices were very low or negative during times of high intermittent renewable output, while high price periods emerged during times of unusually high demand or when operational issues reduced availability of lower-priced generation. Dispatchable generation (coal, gas, hydro and battery) continued to set prices at higher levels in times of tight supply-demand conditions. A record amount of new battery entered the market this quarter.

Gas prices also varied across regions, with lower than usual demand in Victoria supporting a $1-2 price difference between the DWGM and other domestic spot markets. Overall, prices across all domestic spot markets were sitting higher than a year ago for similar demand levels. 

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