Jun-24 Spot Market Report

Jun-24 Spot Market Report

Electricity and gas spot price volatility intensified in June. The portion of electricity spot prices around $300/MWh swelled pushing average monthly prices beyond $150/MWh. Average daily gas hub prices hit $28/GJ in Sydney and Melbourne after AEMO announced a gas supply risk for the coming months.

This part of our Monthly Report concentrates on spot prices in the wholesale electricity and gas markets. The Highlights section of the report draws out the key movements and events, while the second half of the report presents the charts and tables so you can delve into the data and have a play using the interactive charts.

In accordance with our AFSL Authorised Representative obligations we have included a disclaimer and qualified the publisher at the end of this article.

1.0 Highlights

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

1.1 Spot Market Insights

Following strong electricity spot price outcomes in May, all regions had an even greater level of sustained high prices around $300/MWh during June. In May we highlighted the $299 phenomena, where more than 15% of the value of the average price was due to prices in the $250 to $300/MWh price band. Last month in June this portion has grown to almost $25%, while the portion of prices in the $300 to $600/MWh price band has also grown to just over 15%.

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