The National Energy Market failed this week, so we invited Western Australian energy expert Katharine McKenzie on to get her thoughts. Katherine runs an energy consultancy after years working for the West Australian government on energy policy, including decisions not to join the National Energy Market.
There are effectively 3 energy markets in Australia:
- Western Australia where wholesale prices averaged $68/MWh over the last week.
- Northern Territory where wholesale prices are around $70/MWh
- The rest of Australia where wholesale prices were fixed at $300/MWh because they were spiking into the thousands and then the AEMO had to step in to force production
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Samuel Kerr is a Senior Financial Adviser at the MacroBusiness Fund, which is powered by Nucleus Wealth.
The information on this blog contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Samuel Kerr is an Authorised Representative of Nucleus Advice Pty Limited, Australian Financial Services Licensee 515796. And Nucleus Wealth is a Corporate Authorised Representative of Nucleus Advice Pty Ltd.