Tasmanian Energy News
Electricity Market Continues Rally to Record Highs.
Tasmanian Wholesale "Energy Only" pricing for next Financial Year (2017/18) has broken through $100/MWh (10c/kWh undelivered) to reach unprecedented levels. This is almost double the $52/MWh the same parcel of energy was trading at on the 3rd of March last year.
Wholesale energy for the 2018/19 Financial Year has also followed this upward trend, now reaching $85/MWh, from just $52/MWh at the same time last year.
Hydro Tas Water (Energy) in Storage declined another 0.6% last week, to just below 41%.
As shown below, Hydro Tas has been conserving water (Hydro Generation) by running the gas fired Tamar Valley Power Station (Red) for most of the first quarter, making up around 20% of "On-Island" generation with Wind (Dark Green) producing 15%.
In addition to running gas fired generation, Tasmania has also been importing significant volumes of energy from Victoria (Black) over the Basslink Interconnector, with minimal exports (Green) to Victoria, as shown below.
The Tasmanian Quarter 1 Spot price for electricity is tracking at just over $90/MWh to Date, a record high, other than during the 2016 Basslink failure. Whilst the Q1 Victoria Spot price has averaged $73.59 Qtr to Date, prompting the majority flow of electricity from the lower priced Vic region into the higher priced Tas region over Basslink.
Of concern is the spot price sensitivity which continues to be more susceptible to Demand changes than ever before, (excluding the Basslink outage of 2016) as shown below.
Meanwhile high energy commodity prices also mean Renewables Projects are looking better than ever. Goanna expect their will be no shortage of announcements around Large Scale Wind and Solar developments this year. The spot price for Large Generation Certificates is shown below.
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Energy Users Association, Tasmanian Energy Forum 23 March 2017
Goanna is delighted to continue its support of the Energy Users Association of Australia (EUAA) in its major sponsorship of the Tasmanian Energy Forum being held in Hobart at 2pm on Thursday 23rd March 2017. Energy End Users can download your official Goanna discounted registration form.
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While Goanna has endeavored to ensure that the information contained within this newsletter is accurate, we do not make any warranties or representations in relation to the accuracy of the information contained herein.
This newsletter is intended as general advice only and is not intended to constitute personal financial product advice. It is has been prepared without taking into account the personal circumstances, financial needs or objectives of any one person or organisation. Accordingly, individuals or organisations who seek to rely on information contained within this newsletter should undertake their own independent enquiries and seek legal or financial advice prior to doing so.
Disclosure: Tasmanian Energy Brokers Pty Ltd is an affiliated business of Goanna Energy Consulting Pty Ltd.