Following the “unprecedented price rises” in the past year for retail electricity rates across Australia, it looks like we have some “unprecedented price drops” just around the corner!
I’m not sure whether I need to end this post in a /s or not.
Alt-text: Line graph of annual avg wholesale electricity prices in NSW/QLD/SA/TAS/VIC over F.Y. ending 2010-2024. 2022,2023 show an increase of 100~130% compared to 2021; 2024 shows a return to ~2021 prices (except SA).
Data source: https://aemo.com.au/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem
The FY2024 numbers would only be the average prices during July - August 2023. We still have 10 months of price movements for the 2024 numbers to be the final results and this Summer is probably going be hit with a lot of energy usage from air conditioning…