Australian LNG

The global gas glut has returned as it was always going to.

The east coast gas price remains around $8Gj: This has crashed power costs again: Further aided by strong wind: Even sticky power futures have fallen below $85MWh: A break below $85MWh would be significant.

These guys are hopeless.

It is possible to argue that Albo the Disaster doomed his first term in its first week.

Global energy deflation is building.

Local gas spot prices are enjoying some welcome relief: There is no obvious explanation.

Have Albo’s cowards finally done something about energy?

The wind is back blowing which has helped drive down gas usage in the NEM over the past two days: Crashing prices as usual: Which is just as well because the gas cartel is pushing the gas spot price towards $13Gj.

The local gas price remains at Albo’s paralytic $12Gj: It’s been a bad few days in the NEM with no wind unleashing gas-fired power: Driving prices straight up: It’s nothing that Albo and his super-mates don’t just love.

The Aussie gas spot price remains ridiculous at $12Gj: This has not been a problem during shoulder energy season.

Another educational day in the National Electricity Market yesterday.

I don’t know why MB is the only one that reports this accurately.

The gas price remains ridiculous, near $12GJ: But NEM prices are still tumbling at $56MW/h quarterly average: The last two months have averaged $43MH/h.

Asian gas price fell last week: But they remain double Aussie prices, giving the gas cartel plenty of excuses to keep local prices high: In better news, wholesale power costs are still defying exorbitant gas: As wind and solar pump: However, power futures are climbing again.

I knew the gas cartel had been too quiet for too long.

More good news for Australia’s beleaguered energy consumers. National Electricity Market (NEM) prices continue to defy the gas cartel in a new development that holds out hope that the worst is over.

Australian electricity prices continue to defy the naysayers with cheap outcomes.

The gas cartel is doing its best to trash the east coast economy again with prices above Albo’s Swiss cheese price cap: But our luck is holding.

The spot gas price has violated the $12Gj cap again as the export cartel chases high Asian prices: It is allowed to do this because Albo’s gas price cap only applies to contracts.