I don’t read it every quarter that it is released, but it’s worth noting that yesterday (Tuesday 6th Sept 2022) the AER released its Wholesale Markets Quarterly report for Q2 2022:
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You can download the 32-page PDF of the report here:
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Further information about the Wholesale Markets Quarterly was published by the AER here on their website.
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With respect to the AER’s Wholesale Markets Quarterly report for Q2 2022, readers might like to note the following:
(A) What AER notes about the report
In this Media Release to accompany the report, the AER notes:
‘This Wholesale Markets Quarterly report analyses how and why spot prices in both gas and electricity reached record highs during the second quarter of 2022.
The report shows just how strongly the markets are interconnected, with gas-powered electricity generation emerging as the stop-gap measure to keep the lights on.
The report also includes analysis of more recent market outcomes that supported the work of Energy Ministers in August to understand the market volatility and to progress energy reforms.
A focus on the futures markets shows that the volatility was unanticipated and higher prices are likely to persist into 2023.
… and goes on to summarise some Insights.
These ‘record highs’ in spot price outcomes had been discussed on 6th July 2022 in this WattClarity® review of Q2 pricing patterns.
(B) Early commentary about the AER’s Wholesale Markets Quarterly report for Q2 2022
For what might be a range of reasons (e.g. released a number of weeks after the QED for Q2 2022 so Q2 already fading into the background, and not publicised as broadly) the AER’s report does not seem to have garnered as much media attention.
For what it’s worth, I’ll endeavour to keep this updated with commentary I come across:
1) Here on WattClarity:
(a) There’s this note, obviously
(b) Early Wednesday afternoon I noted how ‘AER identifies (at least) 9 discrete factors contributing to the extreme price outcomes (and other concerns) through Q2 2022’.
2) In the AFR I have seen…
(a) Nothing at this point.
3) In the Australian I have seen …
(a) Perry Williams wrote ‘Power, gas price pain to last years: Australian Energy Regulator’ on Wednesday afternoon, 6th September.
(b) It’s only the single article that I have seen at this point.
4) In the Guardian I have seen …
(a) I’ve not seen anything from Peter Hannam or others
5) In SMH and the Age I have seen …
(a) I’ve not seen anything from Foley and Nick Toscano or others
6) In RenewEconomy I have seen …
(a) On Friday 9th September, Giles Parkinson wrote ‘Australia’s energy regulator struggles with reality of variable wind and solar’.
7) In PV Magazine I have seen …
(a) I’ve not seen anything yet
8) In the ABC I have seen …
(a) I’ve not seen anything yet from Daniel Mercer or others
As a reader here, if you come across any other useful commentary, feel free to add as a comment below.
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