{"id":47753,"date":"2021-02-19T05:27:33","date_gmt":"2021-02-18T18:57:33","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=47753"},"modified":"2021-02-19T05:27:33","modified_gmt":"2021-02-18T18:57:33","slug":"renewables-wholesale-electricity-mb1886","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/","title":{"rendered":"Renewables Help Achieve Lowest Wholesale Electricity Prices In Years"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignnone size-full wp-image-47754\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/wholesale-electricity-prices.png\" alt=\"Renewables and wholesale electricity prices\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/wholesale-electricity-prices.png 1200w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/wholesale-electricity-prices-300x158.png 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/wholesale-electricity-prices-1024x538.png 1024w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/wholesale-electricity-prices-768x403.png 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>Wholesale electricity prices in the National Electricity Market last year were at their lowest since 2015 says the Australian Energy Regulator.<!--more--><\/p>\n<p>The AER&#8217;s latest <a href=\"https:\/\/www.aer.gov.au\/wholesale-markets\/performance-reporting\/wholesale-markets-quarterly-q4-2020\">Wholesale Markets Quarterly Report<\/a> looks at the entire year, but with a special focus on the final quarter.<\/p>\n<p>Commenting on the report, AER Chair Clare Savage noted the lowest black coal generation output across the NEM since 2014 was recorded during the quarter. Wind and large scale solar energy facilities represented a record 17 per cent of total National Electricity Market (NEM) output in Q4, which contributed to lower wholesale prices.<\/p>\n<p>Annual wholesale electricity prices were below $70 per megawatt hour (MWh) in all regions, although in the final quarter NSW crept just above:<\/p>\n<ul>\n<li>Victoria: $40<\/li>\n<li>New South Wales: $71<\/li>\n<li>Queensland: $48<\/li>\n<li>South Australia: $35<\/li>\n<li>Tasmania: $46<\/li>\n<\/ul>\n<p>South Australia &#8211; where <a href=\"https:\/\/www.solarquotes.com.au\/blog\/sa-renewable-energy-generation\/\">renewables account for 60% of electricity generation<\/a> &#8211; achieved the lowest quarterly price in the NEM since Q1 2012. Take that, <a href=\"https:\/\/www.solarquotes.com.au\/blog\/barnaby-coal-cefc-mb1883\/\">Barnaby<\/a> and <a href=\"https:\/\/www.solarquotes.com.au\/blog\/nationals-coal-power-mb1858\/\">Matt<\/a>.<\/p>\n<p>Ms. Savage also noted record low demand in South Australia and Victoria resulting from mild weather and high levels of <a href=\"https:\/\/www.solarquotes.com.au\/solar101.html\">rooftop solar electricity generation<\/a> played a role in lower prices during the quarter. In SA, daily minimum demand fell below the previous record 9 times during Q4.<\/p>\n<h2>Lower Electricity Bills, But..<\/h2>\n<p>Average 2020 wholesale electricity prices fell by 23% to 58% compared to 2019, although Q4 prices rose in NSW and Queensland.<\/p>\n<blockquote><p>\u201cWe expect these sustained lower wholesale prices to be reflected in retail bills, so households and businesses should pay less for their energy,\u201d <a href=\"https:\/\/www.aer.gov.au\/news-release\/wholesale-electricity-and-gas-prices-fell-in-2020\">said Ms. Savage<\/a>.<\/p><\/blockquote>\n<p>Federal Minister for Energy and Emissions Reduction Angus Taylor was keen to <a href=\"https:\/\/www.minister.industry.gov.au\/ministers\/taylor\/media-releases\/electricity-bills-expected-keep-falling\">claim credit for the Morrison Government<\/a>.<\/p>\n<p>While any electricity bill relief is welcome, the wholesale aspect is just one of the <a href=\"https:\/\/www.solarquotes.com.au\/blog\/solar-electricity-bill-breakdown\/\">seven main components of electricity bills<\/a>. Still, wholesale costs account for a significant chunk &#8211; around 30%.<\/p>\n<p>For solar power system owners, reduced wholesale electricity prices also generally result in lower <a href=\"https:\/\/www.solarquotes.com.au\/systems\/feed-in-tariffs\/\">solar feed in tariffs<\/a>. As mentioned yesterday, New South Wales&#8217; IPART <a href=\"https:\/\/www.solarquotes.com.au\/blog\/nsw-solar-tariff-mb1885\/\">has already signalled<\/a> it may reduce the non-mandatory benchmark range for 2021\/22.<\/p>\n<p>Lower feed-in tariffs mean solar owners should take note of how they use energy and load-shift where possible to the solar generation window. The retail rate households pay for mains grid electricity is generally much greater than what they receive for solar exports, unless they are still on one of the legacy &#8220;premium&#8221; feed in tariffs.<\/p>\n<p>On a related note, SQ&#8217;s Ronald recently ran the numbers on whether it makes financial sense for those with small systems on the old premium feed in tariffs to forego those high rates and upgrade to a much larger solar system. <a href=\"https:\/\/www.solarquotes.com.au\/blog\/upgrade-replace-solar\/\">Here&#8217;s what he found<\/a>.<\/p>\n<p>The full AER Wholesale markets quarterly &#8211; Q4 2020 report <a href=\"https:\/\/bit.ly\/3bkkLky\">can be downloaded here<\/a>.<\/p>\n<p>In December last year, the Australian Electricity Market Commission (AEMC) said it expected <span class=\"Webtextform\">residential electricity prices to <a href=\"https:\/\/www.solarquotes.com.au\/blog\/australia-electricity-prices-mb1807\/\">decrease in 2021-22 and increase in 2022-23<\/a>, but there will be an <\/span><span class=\"Webtextform\">overall price fall despite<\/span><span class=\"Webtextform\"> this increase. The 2022-23 increase, which the AEMC said was &#8220;by no means certain&#8221;, is put down to the closure of the coal-fired clunker Liddell power station while other generation and storage capacity comes into play. If wholesale prices go up, then feed in tariffs may track similarly.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wholesale electricity prices in the National Electricity Market last year were at their lowest since 2015 says the Australian Energy Regulator.<\/p>\n","protected":false},"author":17,"featured_media":47754,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-47753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Renewables Help Achieve Lowest Wholesale Electricity Prices In Years<\/title>\n<meta name=\"description\" content=\"Wholesale electricity prices in the NEM last year were at their lowest since 2015 says the Australian Energy Regulator.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renewables Help Achieve Lowest Wholesale Electricity Prices In Years\" \/>\n<meta property=\"og:description\" content=\"Wholesale electricity prices in the NEM last year were at their lowest since 2015 says the Australian Energy Regulator.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-18T18:57:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/wholesale-electricity-prices.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Michael Bloch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@solar_quotes\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/\"},\"author\":{\"name\":\"Michael Bloch\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/66afd571aa00c2e442f0192ebac2f6f1\"},\"headline\":\"Renewables Help Achieve Lowest Wholesale Electricity Prices In Years\",\"datePublished\":\"2021-02-18T18:57:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/\"},\"wordCount\":533,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/renewables-wholesale-electricity-mb1886\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/02\/wholesale-electricity-prices.png\",\"articleSection\":[\"General Solar &amp; 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The Australian Energy Market Operator's (AEMO's) latest Quarterly Energy Dynamics (QED) report indicates wholesale prices averaged $93\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"AEMO electricity report","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/aemo-electricity-report.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/aemo-electricity-report.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/aemo-electricity-report.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/aemo-electricity-report.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2023\/01\/aemo-electricity-report.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":95694,"url":"https:\/\/www.solarquotes.com.au\/blog\/wholesale-electricity-prices-mb3304\/","url_meta":{"origin":47753,"position":1},"title":"NEM Wholesale Electricity Prices Tumble, But &#8230;\u00a0","author":"Michael Bloch","date":"November 3, 2025","format":false,"excerpt":"The growth in renewables including rooftop solar \u2014 and energy storage \u2014 continue to put downward pressure on wholesale electricity prices; even as the shift to electrification accelerates. Whether\/when we'll see that flow on to household electricity bills and by how much is another matter. 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Usually during the summer months, wholesale electricity prices increase primarily due to demand driven by increased air-conditioner use - but this wasn't the case in the first quarter of\u2026","rel":"","context":"In &quot;General Solar &amp; Storage News&quot;","block_context":{"text":"General Solar &amp; Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar energy and wholesale electricity prices","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/05\/solar-wholesale-electricity.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/05\/solar-wholesale-electricity.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/05\/solar-wholesale-electricity.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/05\/solar-wholesale-electricity.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2021\/05\/solar-wholesale-electricity.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":43695,"url":"https:\/\/www.solarquotes.com.au\/blog\/solar-electricity-bill-breakdown\/","url_meta":{"origin":47753,"position":3},"title":"Why Your Solar Feed-In Tariff Is Lower Than Your Electricity Usage Tariff","author":"Ronald Brakels","date":"November 30, 2020","format":false,"excerpt":"In this article, I am going to take a typical electricity bill and break it down into its components.\u00a0 I told Finn I was doing this for two sensible reasons: To let people know where their electricity dollar goes. 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