The month of June set new records on all fronts, leading the east coast of Australia energy market into a new paradigm.
The unprecedented events in the gas and electricity markets that have unfolded in recent weeks has brought the energy sector to the forefront of the news, board meetings and social conversation.
The market events have led to the highest energy prices ever seen in our country which is beginning to have a profound impact across all sectors of the economy. Risk management practices have come to the fore and those that suffer from insufficient capital and/or poor risk management practices, have experienced the most damage. With two months of winter remaining, the market dynamics have yet to finish the full winter impact.
Heavily incentivised by market conditions, new renewable generation and the storage sector is mobilising. The existing wind sector delivered a record for June and despite a slow couple of months for new generation arrivals, over 3,200MW of capacity has been added in the last 12 months. According to our sources, another 3,500MW or so is expected to arrive in the coming 12 months.
This month's energy market report covers a large number of significant events and developments across the energy market. Read on for more in-depth analysis of recent events in the energy market, or use the section list in the sidebar to jump to any area of interest.