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Electricity Rates Update – May 2017

By June 5, 2017 No Comments

Since our last wholesale rate update on May 8, electricity rates dropped between 3 and 6 % in New South Wales, Queensland and Victoria. Rates in South Australia increased by 0.63% over the previous month. Prices are still up by between 117 and 213% when compared to 24 months ago.

Australia also registered a record year for energy generated from renewable sources in 2016. The Clean Energy Council reported that new investments in 2017 will account for more than half of what is needed for Australia to meet its 2020 renewable energy target.

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-May-2017 1-Apr-2017 1-Mar-2017 1-Dec-2016 1-Jun-2016 1-Jun-2015
NSW – Average Down 6.56% Down 7.94% Up 0.44% Up 32.64% Up 75.16% Up 116.50%
QLD – Average Down 3.93% Down 3.93% Down 1.85% Up 18.75% Up 39.09% Up 69.79%
SA – Average Up 0.63% Up 9.16% Up 12.12% Up 18.86% Up 52.28% Up 154.95%
VIC – Average Down 3.41% Up 0.50% Up 13.81% Up 43.79% Up 120.54% Up 212.53%


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 (down)

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-May-2017 1-Apr-2017 1-Mar-2017 1-Dec-2016 1-Jun-2016 1-Jun-2015
NSW – Average Down 6.56% Down 7.94% Up 0.44% Up 32.64% Up 75.16% Up 116.50%

Wholesale futures prices in NSW trended down in May with an average total drop of 6.56%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in NSW.

 

Queensland (down)

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-May-2017 1-Apr-2017 1-Mar-2017 1-Dec-2016 1-Jun-2016 1-Jun-2015
QLD – Average Down 3.93% Down 3.93% Down 1.85% Up 18.75% Up 39.09% Up 69.79%

Wholesale futures prices in QLD trended down in May with an average total drop of 3.93%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in QLD.

 

South Australia (up a fraction)

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-May-2017 1-Apr-2017 1-Mar-2017 1-Dec-2016 1-Jun-2016 1-Jun-2015
SA – Average Up 0.63% Up 9.16% Up 12.12% Up 18.86% Up 52.28% Up 154.95%

 

Wholesale futures prices in South Australia were up a fraction when compared to the previous month with an average increase of 0.63%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in SA.

 

Victoria (down)

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-May-2017 1-Apr-2017 1-Mar-2017 1-Dec-2016 1-Jun-2016 1-Jun-2015
VIC – Average Down 3.41% Up 0.50% Up 13.81% Up 43.79% Up 120.54% Up 212.53%

 

Wholesale futures prices in VIC trended down a fraction in May with an average total drop of 3.41%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in VIC.

 

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