Victorian spot gas hits $34.84/GJ on 9th July – flowing through to electricity spot prices in mainland regions


This morning Josh Stabler has noted via LinkedIn that ‘Melbourne’s Declared Wholesale Gas Market (DWGM) 6am schedule price reaching $34.84/GJ.’:

2021-07-09-LinkedIn-JoshStabler

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:

2021-07-09-at-09-35-ez2view-MorningPrices

The ‘interesting’ times continue…

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PS1 a little later on Friday

A little later in the day, the Victorian gas price spiked higher … to $58.44/GJ as Angela Macdonald-Smith noted with ‘Industry in shock as Vic gas prices hit record levels’ in the AFR:

Something’s gotta give!

 

 

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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  1. Up, up and away… – Boardroom Energy

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