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The Guardian - AU
The Guardian - AU
National
Peter Hannam

Higher cost of fossil fuels drives wholesale power prices up despite falling market share

SA New South Wales NEM Victoria
Bayswater power station
NSW coal-fired power stations averaged their lowest supply of electricity during the October-December quarter since the National Energy Market was created, according to a new Aemo report. Photograph: Mark Baker/AP

Electricity demand hit a record low in several states during a milder-than-usual end to 2021, but average wholesale prices were up from a year earlier due to the higher cost of fossil fuels even as their share of the market dived.

The December quarterly energy dynamics report by the Australian Energy Market Operator (Aemo), released on Friday, showed renewable energy set generation highs in the national electricity market (NEM).

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