In line with recent years, and due to a typical increase in demand and decrease in solar generation, average spot prices increased in May. The most notable event for May was extreme price volatility in New South Wales, resulting in the region hitting the Cumulative Price Threshold on the 8th of May and entering Administered Pricing for a week.
Electricity price insights
May saw average spot prices increase across all NEM regions when compared to previous months. While this may seem like a big jump compared to prices earlier this year, the average price in each region was similar to those of previous Mays in recent years. In addition to a decrease in cheap solar generation, the middle months of the year also bring higher demand, and this higher-demand-lower-supply combination can result in higher electricity prices.
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