The prospect of price caps is dominating the industry discussion, but meanwhile there was plenty of other activity across the market.
During the month there were significant renewable asset development announcements, TransGrid announced a more ambitious timetable for major interconnectors as AGL settled it's new Board, while Origin Energy and CWP Renewables pursue company sales.
The energy landscape continues to change rapidly as the penetration of renewables continues to set records, and energy storage systems become more influential. Meanwhile, the maximum administered price cap was approved to double to $600/MWh effective from 1 December, and during the month SA was islanded for a few days due to wild storms damaging transmission towers. AGL announced the early closure of Torrens Island after striking a deal with the SA Government.
Spring of 2022 was the coldest for many years as the BoM has predicted above-average rainfall in the eastern states to persist until the new year.
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- Gas market
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