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Half-price power: record renewables push prices down
AEMO said record renewable generation and more batteries cut wholesale costs, with prices averaging A$74 a megawatt-hour and gas output falling 30%.
- On Tuesday, the Australian Energy Market Operator released a report showing wholesale power prices in the National Electricity Market dropped 47% in the second quarter of 2026, averaging A$74 a megawatt-hour.
- Record-Breaking renewable energy generation accounted for 42.1% of power in the national grid, driving the price cuts. Wind energy increased 20%, while gas-powered generation dropped 30%.
- Victoria led the price decline with a 60% drop, while NSW fell 53%. Australian Energy Market Operator executive Violette Mouchaileh said batteries and renewables are "reshaping Australia's energy markets," improving system reliability.
- Western Australia experienced a 30% rise in Wholesale Electricity Market costs due to colder temperatures, a wind farm outage, and reduced coal generation that forced increased gas use.
- The report follows CSIRO's GenCost findings predicting lower prices until 2030, though debate continues over whether more gas is needed to support the grid as the nation retires aging coal plants.
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Quarterly electricity prices reach their lowest point in six years
Image: Maik/stock.adobe.comDespite electricity demand in the NEM reaching a new June quarter high of 24,220MW, wholesale electricity prices continued to fall. The post Quarterly electricity prices reach their lowest point in six years appeared first on Energy Magazine.
Wholesale power prices plunge as renewables surge, batteries boom, and gas hits 23-year low
·Willoughby City Council, Australia
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Driven by record renewable energy generation and thousands of new energy storage batteries, wholesale electricity prices in much of Australia have nearly halved. (ALAIN JOCARD/AFP/Getty Images)
·New York, United States
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Total News Sources11
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 28%
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