The Australian Energy Regulator (AER) has today released a June gas markets event report analysing drivers of higher price gas days in the Victorian wholesale gas market and the STTM wholesale gas markets (Sydney, Brisbane, and Adelaide STTM hubs) over June 2012.
June 2012 saw the highest ever ex ante price in the Adelaide and Sydney* STTM hubs as well as close to the highest price in the Brisbane STTM hub. Victoria had the highest ever daily price since November 2008.
Consistently higher price gas days occurred in all markets across the month leading to a sharp incline in the 30 day average price.
The AER will release a similar report investigating the July high price gas days soon.
*Discounting two days of anomalous data in the Sydney STTM hub in 2010 caused by data errors