The AER monitors the performance of wholesale electricity and gas markets and publishes data from that monitoring in reports such as State of the Energy Market and the Wholesale Markets Quarterly. This page provides the key data series' for these markets in the form of charts and data tables that can be downloaded.
Highlights include:
Electricity Q4 2022
- Average quarterly Q4 2022 prices fell from record quarterly prices observed in Q2 and Q3 but remained elevated compared to Q4 2021.
- Q4 2022 prices (VWA) ranged from $70/MWh (Victoria) to $128/MWh (Queensland).
- Average weekly prices were negative for a week in December in Victoria, for the first time ever.
- There were a record number of negative prices in the NEM, driven by good solar generating conditions and very low demand. Three quarters of the negative prices were in Victoria and South Australia.
- Large-scale solar output reached a new quarterly record.
- Futures prices came off the Q2 and Q3 highs but remain elevated. Q4 2022 saw a record volume of trades.
Gas Q4 2022
- Gas prices in downstream markets remained around $20/GJ over October and November before declining in December to around $15/GJ.
- Upstream, the average price at Wallumbilla followed a similar trend, reducing to $12.30/GJ over December (day ahead exchange product).
- Delivered quantities in the Gas Supply Hub remained at their 2nd highest level following last quarter’s record level.
- Participation in the Day Ahead Auction exceeded records set in Q2 and Q3, with capacity won reaching almost 31 PJ.
- Storage levels across the east coast continued to decline, with the exception of Iona where significant refilling in December increased end of year storage to its highest level since reporting commenced.
