Australian Energy & Environmental Market Update - June 2026

Australian Energy & Environmental Market Update - June 2026

Key market developments in June

• Wholesale electricity prices remained broadly in line with the previous month, with a modest uplift in spot outcomes driven by a 7% increase in NEM-wide demand as winter conditions began to take hold.
• This month saw increased spot market volatility, with a higher incidence of both negative and extreme price events across the NEM compared with May.
• Electricity baseload (flat) futures prices softened across all NEM regions except SA, potentially influenced by higher SA spot outcomes.
• Environmental markets delivered mixed outcomes.
  
  • LGCs were the standout mover recovering sharply from recent lows as spot and forward market activity increased and market attention turned to future renewable energy demand, including from data centres.
  • STCs continued their gradual upward trend, VEECs remained under selling pressure and drifted lower than May levels, ESCs rose early before easing to close the month slightly higher, while PRCs strengthened as firm buy-side demand absorbed limited available supply.
• In market news, CIS Tender 8 awarded 15 projects totalling 16.1 GWh of dispatchable capacity – broadly in line with the initial target of 16 GWh.