Monday, 9 October 2023

Hope for power bill relief as eastern Australia’s wholesale electricity price tumbles

Exclusive: September quarter average fell to $63 a megawatt hour, partly thanks to milder winter and increased renewables

Eastern Australia’s wholesale electricity prices fell sharply in the September quarter, a trend that if maintained could deliver power bill relief for households and businesses alike.

Spot market prices in the national electricity market (Nem) that serves about 80% of Australia’s population averaged $63 a megawatt hour in the July-September period, according to data provided by the Australian Energy Market Operator.

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