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Energy Insights

Press Release: How Weather, Contract Pricing, and Gas Prices Impact Energy Demand in Australia

Sydney, Australia - 19th September 2023: As Australia's leading energy consultancy, Energy Action is pleased to present our latest insights into how weather, contract pricing, and gas prices are shaping energy demand across the nation. This comprehensive report aims to provide businesses with the information they need to make informed decisions.

Weather's Role on Energy Pricing

The weather is a significant factor affecting energy demand. The recent 7-day forecast shows varying conditions across Australia:

  • Sydney: Hot weather in the mid-30s is expected to spike demand before a temperature drop later in the week.
  • Melbourne: A warm Tuesday will be followed by a significant temperature drop

For more on how weather impacts energy costs, read our September Market Wrap.

Spot Prices

Spot prices offer a snapshot of energy supply and demand. Over the past week:

  • NSW had the highest daily average in the NEM
  • QLD saw low/negative prices during the day

For more insights on spot prices, check out our blog.

Contract pricing is another crucial aspect of energy demand. In NSW, hot weather is expected to put pressure on Q1 24 and Q1 25 contracts. This could be a pivotal moment for energy demand in the region.

Learn more about how contract pricing can benefit your business with our Energy Procurement services.

Gas Prices: A Stable Influence on Energy Demand

The Government Cap has kept spot gas prices consistently at or below $11.00. Retail contracts are currently in a holding pattern, with discussions ongoing about extending the cap until June 2025.

For more on gas prices, read our comprehensive market wrap.

Certificates and Their Role in Energy Demand

Certificates like LGCs, STCs, and VEECs play a role in energy demand by incentivising sustainable practices. For more on this, explore our Net Zero services.

Conclusion

Understanding the factors that influence energy demand is crucial for businesses looking to optimise their energy consumption and costs. Energy Action's unique energy management platform, Utilibox, provides all the data you need at the click of a button.

Ready for change? Contact us.

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