continued to fall in the first quarter of this year, partly due to record large-scale solar generation, according to the latest update from the Australian Energy Regulator.
Record solar production – including from large-scale generation, which set an all-time quarterly record and was up 22 per cent on a year earlier – helped keep prices down during the middle of the day.Advertisement AER chairwoman Clare Savage said the latest quarterly report, which showed forward prices for electricity stabilised during the early part of 2023, was unlikely to impact the final DMO next month.
“At this stage, the late quarter increase in base futures prices does not appear to be having an impact on likely DMO outcomes, but we will continue to monitor contract prices head of releasing our final DMO determination in May.”since the Albanese government’s energy market intervention late last year, the AER has approved double-digit electricity price increases for more than 600,000 customers on default market offers, or standing offers, in south-east Queensland, NSW and South Australia.
Big electricity retailers such as AGL Energy, Origin Energy and EnergyAustralia will use the AER’s final decision on the default tariffs – due in May – as a reference from which to set their discounted offers for customers on market contracts.
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