The retail market in late June to early July
The downturn seen through May and early June continued through late June and into early July.
Other than the continuing decline in prices little changed over the period with Queensland remaining the cheapest index by a modest amount versus NSW and South Australia remaining the most expensive by far.
Contracts to the end of December 2020 are now commonly available in all NEM states other than Tasmania, with occasional pricing being seen into 2021 for NSW, Victoria and Queensland.
Longer term deals remain best value. For NSW and Queensland the discount for three year deals over two year deals narrowed from 0.50c/kWh in late June to 0.35c/kWh in early July whilst in Victoria the discount widened from 0.5c/kWh to 0.75c/kWh.
Customers are generally preferring two or three year contracts. Interest in contracts for a single year is limited for all states other than South Australia where this contract tenure is a little more common.
From late June to early July the Index tracked as follows:
- In NSW the index closed down 0.60c/kWh at 9.05c/kWh.
- In Victoria the index closed down 0.65c/kWh at 10.10c/kWh.
- In Queensland the index closed down 0.80c/kWh at 8.10c/kWh.
- In South Australia the index closed down 0.25c/kWh at 16.00c/kWh.