Feb-24 Financial Market Report

Feb-24 Financial Market Report

Forward prices rallied in QLD and NSW during February as a result of strong demand and high spot prices. VIC prices were affected by the massive power outage on 13 Feb with the Q1-24 price jumping $20/MWh. In contrast, SA forward prices continued to free fall with all tenors approaching $80/MWh.

This part of our Monthly Report concentrates on the financial aspects of the energy market. The Highlights section draws out the key movements, and the second half of the report outlines the charts and tables for further perusal.

1.0 Highlights

This section summarises the key market financial outcomes for the month.

1.1 Forward Market

The downward trend in forward prices slowed during February. The FY-24/25 forward price continued to soften early in the month but appeared to lose momentum during the second half.

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