Type
Sector
Electricity
Segment
Wholesale
Issue date
AER reference
AC 78/22

On 9 May 2022, the wholesale electricity 30-minute price in South Australia was above $5,000 per megawatt hour (MWh) for the 6 pm and 6.30 pm periods.

The AER will publish a report into this high price by mid July 2022.

The AER monitors and reports on wholesale electricity markets and is required to report on events that result in wholesale electricity 30-minute prices exceeding $5,000/MWh.

The AER is also required to report when average FCAS 30-minute prices go above $5,000/MW over consecutive 30-minute periods.

These reports are designed to examine market events and circumstances that contributed to wholesale market price outcomes and are not an indicator of potential compliance issues or enforcement action.

Most customers are not directly exposed to wholesale electricity prices. Energy retailers are the main purchasers in the wholesale electricity market. Retailers bundle electricity with network services for sale to their residential, commercial and industrial customers. Generators and retailers can manage their exposure to price variations in the wholesale market by entering hedge contracts that lock in firm prices for the electricity they intend to produce or buy.

You can subscribe to receive notifications of these reports; under Type select Performance report.