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Electricity rates update – September 2017

Since our last wholesale electricity rates update on September 5, prices have gone down in all states under review apart from Queensland.

Victoria experienced the biggest drop at 2.4% while New South Wales and South Australia experienced price drops of 2.1% and 0.6% respectively. Queensland futures increased by 0.5%.

The average drop in futures prices across the board was of 4.9%. Prices are still up by between 33% and 137% when compared to 24 months ago.

All states electricity rates average

Futures Price Movement since:Current Month to Date2 Months to Date3 Months to Date6 Months to Date12 Months to Date24 Months to Date
11-Oct-20171-Sep-20171-Aug-20171-May-20171-Nov-20161-Nov-2015
NSW – AverageDown 2.06%Up 1.00%Up 2.52%Down 11.91%Up 32.69%Up 87.85%
QLD – AverageUp 0.50%Up 2.51%Up 3.22%Down 14.83%Up 10.53%Up 33.01%
SA – AverageDown 0.60%Down 3.24%Down 3.61%Down 13.07%Up 4.75%Up 35.76%
VIC – AverageDown 2.40%Up 1.11%Down 1.30%Down 7.46%Up 47.07%Up 136.61%

Source: www.asxenergy.com.au

Note: The above rates are based on the average of Calendar Year 2018, 2019, 2020 baseload futures prices.

New South Wales rates update

Futures Price Movement since:Current Month to Date2 Months to Date3 Months to Date6 Months to Date12 Months to Date24 Months to Date
11-Oct-20171-Sep-20171-Aug-20171-May-20171-Nov-20161-Nov-2015
NSW – AverageDown 2.06%Up 1.00%Up 2.52%Down 11.91%Up 32.69%Up 87.85%

Wholesale futures prices in NSW trended up in September with an average total increase of 3.12%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in NSW.

Queensland electricity rates update

Futures Price Movement since:Current Month to Date2 Months to Date3 Months to Date6 Months to Date12 Months to Date24 Months to Date
11-Oct-20171-Sep-20171-Aug-20171-May-20171-Nov-20161-Nov-2015
QLD – AverageUp 0.50%Up 2.51%Up 3.22%Down 14.83%Up 10.53%Up 33.01%

Wholesale futures prices in Queensland trended up in September with an average total increase of 0.5%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in Queensland.

South Australia electricity rates update

Futures Price Movement since:Current Month to Date2 Months to Date3 Months to Date6 Months to Date12 Months to Date24 Months to Date
11-Oct-20171-Sep-20171-Aug-20171-May-20171-Nov-20161-Nov-2015
SA – AverageDown 0.60%Down 3.24%Down 3.61%Down 13.07%Up 4.75%Up 35.76%

Wholesale futures prices in South Australia trended down in September with an average total drop of 0.6%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in South Australia.

Victoria electricity rates update

Futures Price Movement since:Current Month to Date2 Months to Date3 Months to Date6 Months to Date12 Months to Date24 Months to Date
11-Oct-20171-Sep-20171-Aug-20171-May-20171-Nov-20161-Nov-2015
VIC – AverageDown 2.40%Up 1.11%Down 1.30%Down 7.46%Up 47.07%Up 136.61%

Wholesale futures prices in Victoria trended down in September with an average total drop of 2.4%. This is reflected in the rates that are currently being offered by retailers to large market electricity customers in Victoria.

Speak to an Energy Management Consultant

Ben Walllington
0412 676 114
Madonna Ghajar
0412 046 022
Ewen Beard
0481 345 181