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AAP
AAP
Business
Marion Rae

Extreme weather sparks higher wholesale energy prices

Victoria Electricity Aer Queensland
Severe storms in Victoria in February felled transmission towers and contributed to higher prices. (Con Chronis/AAP PHOTOS)

A hot summer and outages triggered by severe storms pushed wholesale electricity prices higher in the first three months of the year, but there could be some relief in 2025.

A quarterly report released on Thursday showed soaring heat and humidity increased demand, and a severe storm in Victoria sparked outages as congestion in the national grid stopped states sharing supply.

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