Wholesale electricity and gas prices in 2020 dropped to their lowest levels since 2015, according to the Australian Energy Regulator’s (AER) latest Wholesale Markets Quarterly Report.
The report also reveals that there was more wind and large scale solar generation than ever before with a record 3700MW of renewable capacity entering the market. AER Chair Clare Savage welcomed the lower prices, saying it was good news for customers with wholesale prices making up a third of household energy bills.
‘We expect these sustained lower wholesale prices to be reflected in retail bills, so households and businesses should pay less for their energy,’ Ms Savage said.
For more information and the, see Wholesale markets quarterly - Q4 2020.