EnergyByte

August 2025 Spot Market Report

Aug-25 NEM spot prices fell from last year's levels, but much less for TAS. Negative prices surged in QLD, exceeding SA for the first time. A cold August drove NSW, SA and VIC demand increases. SA’s FCAS hit $35.6 M, the highest since Feb-20. Gas spot prices steady while Iona storage lowered.

11 min read Sep 10, 2025

Market Report paid

Aug-25 Financial Market Report

Carl Daley, Eric Chan

The August 2025 forward market rebounded after a late July fall. VIC Cal-28 rose significantly while Q3-25 exhibited greater volatility. Options trading surged to 46% of total flow. Despite lower overall volumes, strategic opportunities emerged amid seasonal fluctuations and risk management shifts.

9 min read Sep 8, 2025

Market Report paid

Aug-25 Generation Report

Heather Wang, Carl Daley, Eric Chan

NEM capacity expanded by 69MW in August. Solar farm weighted prices continue to struggle while wind continues to be less adversely impacted. Batteries provided crucial FCAS in SA while VIC continued its role as a key energy hub. Lower TAS wind generation led to highest spot prices.

15 min read Sep 5, 2025

Market Report paid

July 2025 Spot Market Report

Carl Daley, Eric Chan

July 2025 spot market conditions reflected strong pricing in SA and TAS, and more moderate pricing in the other Regions. SA also dominated FCAS costs for the month which were the highest SA FCAS costs since Nov-22, and the second highest in SA’s history. Gas markets operated within normal ranges.

12 min read Aug 18, 2025

Market Report paid

Jul-25 Generation Report

Heather Wang, Eric Chan, Carl Daley

In July, capacity increased by 215MW, Generator Weighted Average prices declined along with Time Weighted Averages, VRE curtailment rates increased, and batteries provided crucial grid stability. VIC remained the dominant energy exporter while Snowy storages are the lowest in 5-years.

14 min read Aug 8, 2025

Market Report paid

July-25 Financial Market Report

Carl Daley, Eric Chan

The Q3-25 quarter spot prices have struggled to meet forward price expectations leading to a softening of the current quarter forward price and all future periods. However, the quarter is not yet finished, and there is time for a recovery.

7 min read Aug 7, 2025

Market Report paid

June 2025 Spot Market Report

Carl Daley, Eric Chan

June 2025 caused a strong finish to the financial year with extreme volatility across the NEM, although QLD’s impact was tempered by interconnector constraints. Power plant outages were a big driver on spot price outcomes. Gas prices were also elevated during critical days.

17 min read Jul 23, 2025

Market public

Portfolio Optimisation Science

Carl Daley

For any market participant, large consumer or trading house with exposure to the spot price and financial market, it is challenging to develop optimal risk-adjusted trading or hedging strategies. Based on our many years of experience, we have developed a rewarding and effective approach.

6 min read Jul 16, 2025

Market Report paid

Jun-25 Generation Report

Heather Wang, Eric Chan, Carl Daley

Generation capacity grew by 1,172MW. Extreme price events lifted wind and solar GWA prices, though farms couldn't fully capitalise on these events, resulting in larger discounts to TWA prices. The curtailment rate for solar and wind rose in most regions. TAS net imports from VIC hit a 15-year high.

13 min read Jul 4, 2025

Market public

June 2025 Reflections

Carl Daley

The Q2-25 forward price gradually declined well below pre-quarter expectations given the softer spot outcomes. This affected the sentiment for all future quarters causing expectations and forward prices to soften. However, before the quarter ended, the stars aligned and June gripped with vengeance.

8 min read Jul 3, 2025

Market public

Thu 26th June 2025 Event

Carl Daley

Last night delivered severe market price conditions. Triple ‘C ‘Day weather conditions (cold, calm, cloudy) eliminated wind generation and drive peak heating demand. This event shifts market price perceptions as well as being both a warning and a roadmap, for building a more resilient energy future.

10 min read Jun 27, 2025

Market Report paid

May-25 Generation Report

Jay Ros, Eric Chan, Heather Wang

Battery storage grew by 490MWh in May, with the addition of two new large-scale batteries in SA. QLD batteries outperformed other BESS of the NEM, amassing $6.3m in revenue. Renewable generation levels for May surged thanks to clearer weather, growing solar capacity, and record high wind generation.

12 min read Jun 18, 2025