Since our last wholesale rate update on June 5, electricity rates have registered a drop in New South Wales, Queensland, South Australia and Victoria. Prices are still up by between 87 and 188% when compared to 24 months ago. The drop in prices was highest in Queensland at 13% and the lowest was in Victoria at 6%. The average drop in prices across the board was 10% over the month of May.
The price drops come after Chief Government Scientist Alan Finkel’s electricity market review recommended the introduction of a Clean Energy Target. Political bickering continues in the coalition party room as former Prime Minister Tony Abbott continues to push for more coal fired plants. Prime Minister Malcolm Turnbull has since stated that the government could finance a new High Efficiency Low Emissions coal plant. A raft of new solar generation and battery storage projects were also announced in June.
All states average
| Futures Price Movement since: | Current Month to Date | 2 Months to Date | 3 Months to Date | 6 Months to Date | 12 Months to Date | 24 Months to Date |
| 1-Jun-2017 | 1-May-2017 | 1-Apr-2017 | 1-Jan-2017 | 1-Jul-2016 | 1-Jul-2015 | |
| NSW – Average | Down
11.61% | Down 17.41% | Down 19.86% | Up 12.53% | Up 46.68% | Up 87.35% |
| QLD – Average | Down
13.16% | Down 16.57% | Down 17.82% | Up 0.42% | Up 17.05% | Up 41.72% |
| SA – Average | Down
9.18% | Down
8.60% | Down
3.99% | Up 7.47% | Up 25.49% | Up 130.10% |
| VIC – Average | Down
6.29% | Down
9.51% | Down
9.47% | Up 34.30% | Up 90.35% | Up 187.57% |
Source: www.asxenergy.com.au
Note: The above rates are based on the average of Calendar Year 2018, 2019, 2020 base load futures prices.
New South Wales
| Futures Price Movement since: | Current Month to Date | 2 Months to Date | 3 Months to Date | 6 Months to Date | 12 Months to Date | 24 Months to Date |
| 1-Jun-2017 | 1-May-2017 | 1-Apr-2017 | 1-Jan-2017 | 1-Jul-2016 | 1-Jul-2015 | |
| NSW – Average | Down 11.61% | Down 17.41% | Down 19.86% | Up 12.53% | Up 46.68% | Up 87.35% |
Wholesale futures prices in NSW trended down in June with an average total drop of 11.61%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in NSW.
Queensland
| Futures Price Movement since: | Current Month to Date | 2 Months to Date | 3 Months to Date | 6 Months to Date | 12 Months to Date | 24 Months to Date |
| 1-Jun-2017 | 1-May-2017 | 1-Apr-2017 | 1-Jan-2017 | 1-Jul-2016 | 1-Jul-2015 | |
| QLD – Average | Down
13.16% | Down 16.57% | Down 17.82% | Up 0.42% | Up 17.05% | Up 41.72% |
Wholesale futures prices in QLD trended down in June with an average total drop of 13.16%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in QLD.
South Australia
| Futures Price Movement since: | Current Month to Date | 2 Months to Date | 3 Months to Date | 6 Months to Date | 12 Months to Date | 24 Months to Date |
| 1-Jun-2017 | 1-May-2017 | 1-Apr-2017 | 1-Jan-2017 | 1-Jul-2016 | 1-Jul-2015 | |
| SA – Average | Down
9.18% | Down
8.60% | Down
3.99% | Up 7.47% | Up 25.49% | Up 130.10% |
Wholesale futures prices in South Australia were up a fraction when compared to the previous month with an average drop of 9%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in SA.
Victoria
| Futures Price Movement since: | Current Month to Date | 2 Months to Date | 3 Months to Date | 6 Months to Date | 12 Months to Date | 24 Months to Date |
| 1-Jun-2017 | 1-May-2017 | 1-Apr-2017 | 1-Jan-2017 | 1-Jul-2016 | 1-Jul-2015 | |
| VIC – Average | Down
6.29% | Down
9.51% | Down
9.47% | Up 34.30% | Up 90.35% | Up 187.57% |
Wholesale futures prices in VIC trended down in June with an average total drop of 6%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in VIC.
About Leading Edge
Leading Edge Energy is an energy cost reduction consultancy. We assist our clients by applying a holistic lens to your energy costs whereby we guide you through the complete energy cost reduction cycle from rates minimization to energy efficiency, solar generation and battery storage.
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