In the beginning of Q4, high availability of solar and wind energy has resulted in a dip in the market, with energy spot prices remaining largely in the negative throughout the day. Forward market predictions show the trend is likely to continue.
International coal and gas prices have normalised with widespread storage of gas happening in Europe, in preparation for winter in the Northern Hemisphere.
However, the market remains vulnerable to domestic and international shocks.
Coal-fired generation plants across the National Electricity Market are considered highly unreliable, due to being run hard over the last 18 months, and are causing uncertainty in the market.
El Niño is forecasted for the summer, set to bring hot, dry conditions across Australia and the possibility of an uplift in prices in the coming months.
Blue NRG proactively seeks out reliable, cheap energy, including from certified renewable solar and biofuel sources.
Get in touch with one of our Business Relationship Managers today to discuss how we can create a bespoke energy plan for your business.
Call us on 1300 599 888 or email Business@bluenrg.com.au