- Critical electricity supply shortfalls in Queensland this evening have improved, following actions including AEMO directing generator availability.
- Yesterday (12 June), wholesale electricity prices in Queensland reached the cumulative high price threshold, triggering a $300/MWh administered price cap. As a consequence, some generators revised their market availability, contributing to a forecast supply shortfall.
- This evening (13 June), wholesale electricity prices in New South Wales also hit the cumulative high price threshold. It is possible that other states may also reach the threshold in the near term.
- Supply reserve shortfalls are currently forecast in Queensland and NSW in the coming days. However, this may change with the administered price caps in other states.
- AEMO will continue to monitor reserve conditions closely in Queensland and NSW, and more broadly across the NEM, providing further updates should conditions change.
- In the gas markets, gas prices for the Sydney Short Term Trading Markets (STTM) and Victoria Declared Wholesale Gas Market (DWGM) remain capped at $40/GJ after reaching cumulative high price thresholds in Victoria (30 May) and Sydney (7 June).
- This will remain capped in both markets until the cumulative price falls and remains below the threshold for a day.
For NEM wholesale electricity prices, the cumulative price threshold is $1,359,100 over a 7-day period. This triggers an administered price cap of $300/MWh under the National Electricity Rules.