The 2023-2024 energy outlook in Australia reveals electricity generator reliability risks, as warned by AEMO, due to hot and dry conditions with elevated bushfire risk, potentially driven by El Nino patterns. There is anticipation of higher peak demand, elevating the risk of involuntary load-shedding. Thermal generation's historically poor reliability is unlikely to improve. Electrification of traditional gas loads, increased consumption, and maximum demand forecasts, along with expected coal plant closures over the next decade, pose challenges. In addition, higher generator and unplanned outage rates are anticipated, reflecting poor performance trends among some technologies.
Due to all these adverse factors, it is important to consider that traders and market participants are known to adjust their pricing strategies, especially as we move closer to the summer period.
Although current conditions are favourable, the market remains extremely volatile and navigating market fluctuations requires informed decision making. With a 25 year industry presence and 16 year long partnership with QHA, Trans Tasman energy Group‘s (TTEG) strong ties and constant engagement with energy retailers across Australia enable TTEG to secure competitive market prices at no cost to your business.
If your contract is due to expire at the end of this year, in 2024, or 2025, feel free to contact Account Manager of QHA, Nick Ludbey, at TTEG on 0425 983 338 or email nludbey@tteg.com.au
