Queensland Liquified Natural Gas exports commenced in early 2015. Historically, prior to this, gas markets in eastern Australia have been relatively stable. Conventional gas fields supplied large industrial users, business/residential – mass market – load as well as gas-powered generators at relatively low prices.
In this Chart of the week, we explore the gas demand by segment from 2014 to 2019. We also compare it to prices Victoria.
Lumi Adisa
Low carbon generation
As the grid transitions to much higher levels of renewable penetration, the range of generation outcomes on any given day increases. The worst of these ranges are known as dark doldrums when there is a combination of poor conditions for wind and solar generation, usually a windless day in winter....
Commercial and market outlook
Over the last five financial years, South Australia has seen a significant increase in price volatility, with substantial portions of time both negative and above $250/MWh, leading to increasing opportunities for storage systems to provide arbitrage services. A number of events initiated the reduction in wholesale energy prices between $50/MWh...
Commercial and market outlook
On 29 May 2023, AEMO published a conclusions report on the VNI West Project. According to the report, option 5A (a variant of AEMO’s preferred option in a previous consultation paper) is preferred for VNI West. In option 5A, the transmission line crosses the Murray River north of Kerang (Wamba...
Commercial and market outlook
Australia’s oldest coal-fired power plant Liddell retired completely in the last week of April 2023 after 52 years. This giant of AGL, which had a total registered capacity of 2,000 MW, operationally acted as a 1600MW station and 1200MW after the closure of its third unit. Australia’s transition to clean...
Commercial and market outlook
For many, the first of April is marked in calendars as a day for jokes and silly nuisances. For the few, specifically the energy industry, we have it pencilled in for the release of the upcoming year’s Marginal Loss Factors (MLFs). Over the last half-decade, movements in MLFs have received...
Power and gas networks
A lot has been written recently about how the energy transition is lagging behind the required installed capacity needed to deliver on our net-zero future. We also know that the connection of new generation requires significant investment into additional transmission infrastructure (or other non-network solutions) and that this needs to...
Power and gas networks
In unfavourable conditions, gas shortfalls on peak days this winter are a distinct possibility highlighted by AEMO’s 2023 Gas Statement of Opportunities (GSOO). The GSOO is released yearly and provides a forecast of the adequacy of east coast gas supplies based on demand forecasts. The GSOO can highlight to the...
Low carbon generation
On 19 December 2022, the Federal Minister for Climate and Energy officially declared the area in Bass Strait off the Victorian Gippsland Coast suitable for offshore wind. The declared area covers approximately 15,000 square kilometres, from Lakes Entrance in the east to south of Wilsons Promontory in the west. Based...
