The AER monitors the performance of wholesale electricity and gas markets and publishes data from that monitoring in reports such as the annual State of the Energy Market and Wholesale Markets Quarterly report. This page provides the key data series' for these markets; the charts and tables, as well as underlying data that can be downloaded.
Financial year spot prices, 2021–22
- The Queensland and New South Wales financial year average 30-minute prices (VWA) were the highest ever at $178/MWh and $144/MWh respectively.
- A key feature of 2020–21 was decline in the number of prices close to -$1,000/MWh, reflecting the change in renewable offers.
Quarterly spot prices, Q2 2022
- Average quarterly 30-minute prices (VWA) in Quarter 2 (Q2) 2022 are the highest ever quarterly averages for all regions and increased significantly compared to both Q1 2022 and Q2 2021, with prices ranging from $228/MWh in Tasmania to $344/MWh in Queensland.
- Final base price of $322/MWh is the highest ever in Queensland (previous highest was Q1 2017 at $173/MWh).
- Base futures in all regions have spiked significantly following rises in international fuel costs and geopolitical uncertainties.
- High prices in early June meant the cumulative price cap was breached in all mainland regions and soon afterwards the market was suspended for a week.
- On 3 April South Australia reached a new record minimum demand for a Q2 of 349 MW.
- On 9 June Queensland reached a new record maximum demand for a Q2 of 8,364 MW.
Frequency controlled ancillary services (FCAS)
- Total FCAS costs for Q2 2022 were $84 million.
Gas Q2 2022
- Gas prices reached unprecedented levels over the quarter, rising significantly over May and continuing to climb through June.
- Average quarterly spot prices were roughly three times higher than last quarter.
- In downstream markets, average prices ranged from $28.81/GJ in Brisbane to $29.74/GJ in Adelaide
- The Victorian average price was $28.83/GJ and the Sydney average price was $28.87/GJ but prices there were subdued by price caps which prevented prices exceeding $40/GJ over June.
- Upstream, the average gas price at Wallumbilla was $29.23/GJ (day ahead exchange product).
- East coast production averaged 5,513 TJ/day in Q2 2022 exceeding the previous Q2 record set in 2021 (5,487 TJ/day).
- Gas flows from the south to the north via the QSN link reduced to an average of 34 TJ/day, with strong flows north over April and May reversing to flow gas south over June.
- Day ahead auction quantities increased by 36% (to 20.9 PJ) from the previous quarterly record set in Q3 2021 (1.5 PJ), with 99.5% of capacity won on the SWQP in June to transport gas south.