May-25 Spot Market Report

NSW had the strongest average spot price for the NEM in May. Across the NEM prices were correlated with wind generation, with periods of high wind, crushing spot prices, and low wind combined with cold weather pushing up prices. Gas spot prices softened in line with the ACCC netback price.

1.0 Highlights

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

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May-25 Financial Market Report

Carl Daley

So far Q2-25 spot electricity prices are following the footsteps of Q1-25, by not living up to expectations set prior to the commencement of the quarter. May-25 trades volumes were high as is normally the case, but less than May-24 levels. LGC prices strengthened and VEEC fell markedly.

7 min read Jun 3, 2025

Market Report paid

Apr-25 Generation Report

Heather Wang, Carl Daley, Eric Chan

The NEM expanded by 201MW in April. Wind farm GWA prices aligned better with rising spot prices, while solar farms showed contrary trends. All regions suffered higher wind curtailment than last April. TAS hydro generation hit a seven-year April low, deepening dependence on VIC’s exports.

14 min read May 15, 2025

Market Report paid

Apr-25 Spot Market Report

Jay Ros, Eric Chan, Carl Daley

Mild April weather led to subdued demand and average spot price outcomes across the NEM, except for short evening peak volatility for QLD and NSW early in the month. In the news, success for Labor Party confirms the ongoing transition to renewables and a strong stance on emission reduction targets.

13 min read May 8, 2025