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Market Update August 2022

Market Update August 2022

A lite version of our monthly carbon & energy market update.

Market Update August 2022

Below is a lite version of our monthly carbon & energy market update.

Become a CORE Markets subscriber to access our premium monthly update with detailed price charts, commentary from our industry analysts and full length feature articles.

  • Continued global fuel price pressure combined with domestic gas supply tightness kept both electricity and gas pricing at record wholesale highs with some relief in late July.
  • Wholesale Energy and Gas prices across the NEM averaged over $360/MWh and $40/GJ, respectively.
  • AEMC is considering a rule change request to raise cap prices from $300/MWh to $600/MWh.
  • LNG netback prices saw the largest monthly jump on record by a staggering $21/GJ from $28/GJ to $49/GJ this month.
  • The ACCCs gas supply inquiry report indicates that there will be an east coast demand shortfall in 2023 by 56 PJ if all the excess gas of LNG exporters continues to be sold overseas.
  • Flat Futures for CY2023 remain at highly elevated levels, falling by 1% overall during July.
  • STCs remain just below their Cap price of $40/certificate at $39.95/certificate as the clearing house deficit persists.
  • ACCU’s fell by 20% down to $28/certificate, with an increasing premium seen for HIR over generics due to their project methodologies.
    LGCs prices for both Cal22 and Cal25 onwards have remained strong, with Cal 23 and Cal 24 softening slightly.

Feature 1: AEMO triggers Gas Supply Guarantee

On July 19th AEMO activated the Gas Supply Guarantee mechanism to secure additional gas supplies for electricity generation in the NEM…

To access the full version of our newsletter with detailed commentary from our expert industry analysts and in depth feature articles, become a subscriber to our CORE Markets Platform.

Feature 2: Hornsdale Power Reserve (HPR) given approval to deliver inertia services to Australia’s electricity market

Inertia in power systems refers to the energy stored in large rotating generators (or motors) which gives them a tendency to remain rotating…

To access the full version of our newsletter with detailed commentary from our expert industry analysts and in depth feature articles, become a subscriber to our CORE Markets Platform.

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Table of Contents

Market Update August 2022

Author
Marcus Kelly
Marcus Kelly
Marketing Manager
August 9, 2022

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