Greens demand return to the Dark Age

Monday 13 May 2024

We’re still only in shoulder season, with National Energy Market (NEM) demand subdued:

Yet the spot gas price that feeds electricity prices is already comfortably above the $12Gj contract price cap, roughly breaking even with import netback prices:

The high gas price is filtering through to the NEM:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.