Spot gas prices hit $20/GJ on Tuesday 6th July


A short article this afternoon with this single snapshot from ez2view in the 14:50 dispatch interval to highlight how gas prices have shot through the roof as the result of a number of separate factors:

2021-07-06-at-14-45-ez2view-ElectricityandGas

 

Others are more familiar with the gas market than I.  For instance, Josh Stabler on LinkedIn today highlighted four different contributing factors:

Factor 1 = colder weather (hence higher consumption for gas-fired heating in the south);

Factor 2 = partial outages at Longford

Factor 3 = reallocation of Queensland gas into local gas generation (in part because of the ongoing aftermath of the Callide C4 Catastrophe);  and

Factor 4 = rapidly declining gas in Iona gas storage.

 

As shown above gas prices this afternoon at the time of the snapshot were $20/GJ (Josh noted the Sydney hub of the STTM hit $27.56/GJ earlier).

About the Author

Paul McArdle
One of three founders of Global-Roam back in 2000, Paul has been CEO of the company since that time. As an author on WattClarity, Paul's focus has been to help make the electricity market more understandable.

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