The Australian Energy Regulatory (AER) is required to publish a report whenever the electricity spot market 30-minute price exceeds $5,000/MWh and whenever consecutive 30-minute prices exceed $5,000/MW FCAS markets.
This report includes high price events that occurred on:
- 31 January in Queensland
- 9, 15 and 16 February in South Australia
- 1 March in Queensland
- 16 and 17 March in Queensland and New South Wales
The AER must consider whether the following factors contributed to the significant price outcomes:
- available capacity
- network availability
- offer, bidding and rebidding behaviour in respect of the relevant market.
The AER may consider the following matters:
- broader and ongoing market trends that may be contributing to the significant price outcomes
- any events and behaviours that may be detrimental to effective competition or efficient market operation
- any other matter which the AER considers relevant.