March Market Report Summary | SavvyBI

March Market Report Summary

March Market Report 2020

COVID-19 continues to effect the Australian energy market, as softening LNG demand and falling Asian LNG prices impact the local gas prices. The average gas price across Australia’s wholesale gas markets fell by almost 20%, from around $6/GJ in February, to less than $5/GJ for March.

Operational Demand

 

Stage 3 shutdown measures have also had a marked effect on operational demand, which at 15.1TWh for March, was at its lowest level in more than 15 years.

Operational Demand fo March (TWh)
Electricity Spot Prices

Electricity Spot Prices

Soft domestic gas prices and lower demand continue to impact regional electricity spot prices. The average price for March across the NEM was just $43/MWh, which was a drop of 17% from the previous month. The average price for all mainland states was the lowest since 2016.

Forward Prices

Forward prices also continue to fall across the NEM, the FY-20/21 forward price is now below $50/MWh, with all regions now fetching below $60/MWh for the next financial year.

Forward Prices

LGCs

The LGC spot price softened further during March and is now below $30/certificate for the first time since 2014. The Cal-20 LGC forward price softened during March to below $30/MWh while future years remained mostly constant during the month.

LGCs

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August Market Report

August Market Report Summary

Scroll to the full report Following another month of COVID-19 restrictions, the National Electricity Market recorded its lowest August energy consumption since 2006 with just

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