Record demand and extreme prices in January drove up the QLD forward market and to a lesser degree NSW, while down south in VIC and SA, a weak summer has driven forward prices towards the floor. The market has since decided these high prices cannot be sustained and forward prices have nosedived.
In the environmental certificate markets, LGCs softened to $48.70/certificate in January, while VEECs rallied to a record close of $95/certificate.
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.
This section summarises the key market financial outcomes for the month.