Data from the Australian Energy Market Operator shows that wholesale electricity prices on the East Coast were 23% higher year-on-year in the June quarter.
The wholesale price averaged $140 per megawatt-hour during the quarter—the highest level since 2022, when the wholesale price topped $260 per megawatt-hour following Russia’s invasion of Ukraine.
AEMO attributed the spike in wholesale prices during the June quarter primarily to low levels of wind coinciding with increased demand for electricity amid cold weather.
