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Australian Energy & Environmental Market Update - March 2026

Australian Energy & Environmental Market Update - March 2026

A monthly snapshot of key developments across electricity and environmental markets, tracking price movements, underlying drivers and policy. signals shaping market conditions.

Updated
April 14, 2026
Published
April 14, 2026
Australian Energy & Environmental Market Update - March 2026

Australian Energy & Environmental Market Update - March 2026

Key market developments in March

  • Wholesale electricity prices softened month‑on‑month as underlying demand across the NEM decreased.
  • Electricity spot prices were subdued, with no market price cap events occurring this month and an 28% increase in negative priced intervals from last month.
  • Flat futures contracts rallied this month across all NEM regions, driven partially by price uncertainty linked to gas supply chain impacts from current geopolitical events.
  • Rotating renewables focus (wind): Wind asset performance declined this month, with a 17% drop in total revenue, underpinned by softer spot outcomes and lower LGC prices.
  • Environmental markets reported mixed outcomes: LGC prices continued to soften, STCs and PRCs remained broadly stable, and VEECs posted a steady increase.
  • ESCs were a standout in environmental markets with prices rallying on tightening supply expectations ahead of the 31 March commercial lighting deadline

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Australian Energy & Environmental Market Update - March 2026

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