Perfect storm drives down NEM wholesale electricity prices, but is “the only way really up”?

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In this update, we discuss our expectations for wholesale prices in the National Electricity Market (NEM) in line with our latest Australian Electricity Outlook (AEO).

Our quarterly AEO provides an outlook for wholesale electricity prices in the NEM over medium- (16 quarters) and long-term horizons (annually to 2040). Modelling considers two key pathways for the future development of the NEM, including our Central case for the “current transition” of the market, and an Alternative case, reflecting AEMO’s “step change” shift to renewable energy in line with a “well below 2°C” carbon budget under the Paris Agreement.

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