Australia’s record levels of renewable energy helped extend the slide in wholesale power prices in the first three months of 2023, displacing fossil fuels and sending carbon emissions from the sector to new lows for the first quarter.
The latest energy dynamics report by the Australian Energy Market Operator (Aemo) showed wholesale spot prices in the national electricity market (NEM) averaged $83/MWh, down more than a 10th from the December quarter and two-thirds lower than the record average $264/MWh in the June quarter last year.
