Last month in February 2023, we saw a reduction in prices for New South Wales and South Australia across all years compared to last month's report. There were also slight increases in Victoria for 2024, 2025 and 2026, along with Queensland for 2023.
Next month in April, we will see the closure of the Liddell Power Station located in New South Wales which has been continually operating since 1971. Overall, the closure of this power station is likely to accelerate the renewable transition within New South Wales; and whilst there may be short-term challenges in filling the gap left by the closure of the power station, the long-term benefits are expected to outweigh these challenges.
Calendar Base Future Prices $MWh - Friday 10 March 2023
State by State Calendar Base Future Prices $MWh - Past 12 Months
There’s no penalty for being prepared, market conditions indicate short-term price weakness but this is likely to change with the closure of Liddell next month. Commence procurement, with a view to multiple rounds for 2024 and 2025 or convert to progressive purchasing to avoid a single point-in-time renewal.