This morning Josh Stabler has noted via LinkedIn that ‘Melbourne’s Declared Wholesale Gas Market (DWGM) 6am schedule price reaching $34.84/GJ.’:
That’s clearly going to cause pain for a number of different types of stakeholders. Those high gas prices (not just in VIC) are flowing through to sustained high prices in the 4 x mainland regions in the NEM, as we see here in this snapshot from ez2view at 09:35 this morning:
Paul was one of the founders of Global-Roam in February 2000. He is currently the CEO of the company and the principal author of WattClarity. Writing for WattClarity has become a natural extension of his work in understanding the electricity market, enabling him to lead the team in developing better software for clients.
Before co-founding the company, Paul worked as a Mechanical Engineer for the Queensland Electricity Commission in the early 1990s. He also gained international experience in Japan, the United States, Canada, the UK, and Argentina as part of his ES Cornwall Memorial Scholarship.
When markets operate normally, a sharp rise in the price of any commodity triggers a boom in exploration, development and new supply. But this is not seeming to happen in response to high domestic gas prices. In this article, guest author (Graeme Bethune) examines why.
A timely reminder from Rod Sims (at the ACCC) this week that there are a number of factors driving electricity price higher – not just a single “smoking gun”
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