Queensland
Wholesale electricity prices in Queensland have eased materially from the elevated levels seen over recent years, with forward pricing now sitting at some of the lowest levels the market has seen in some time. Improved supply conditions and softer demand have reduced risk premiums, though the market remains exposed during peak demand periods. While volatility hasn’t disappeared, the overall pricing environment is more favourable than it has been in previous cycles.
With wholesale prices currently sitting at comparatively low levels, this is a critical time for businesses to review their energy strategy and assess whether current market conditions present an opportunity.
New South Wales
NSW wholesale prices have softened meaningfully, with forward markets pricing in less extreme risk than has been the case for several years. While underlying concerns around ageing generation remain, current pricing suggests the market is more balanced than in prior periods. The reduction in wholesale pricing reflects improved availability and a recalibration of risk premiums rather than a return to long-term lows.
This shift in pricing makes now an important window for customers to review contract positions while wholesale costs remain relatively subdued.
Victoria
Victoria has seen a notable improvement in wholesale price outcomes, supported by strong renewable generation and reduced reliance on high-cost firming during average demand conditions. Forward pricing has continued to ease, placing wholesale prices at levels not seen for some time. While peak demand events can still introduce volatility, the broader market has moved into a more favourable pricing phase.
With wholesale prices currently lower than recent years, businesses should take the opportunity to reassess their energy procurement approach.
South Australia
South Australia remains a highly dynamic market, but wholesale pricing has moderated compared to previous periods of heightened volatility. Increased renewable output and improved system flexibility have helped reduce average price levels, even as short-term price swings continue. Forward pricing indicates a softer wholesale environment than the market has experienced in recent years.
Given current wholesale conditions, now is a key time for energy users to review their exposure and consider whether market conditions align with their risk appetite.
