Natural gas prices in Queensland have almost doubled over the past year from roughly $5/GJ to above $9/GJ (delivered commodity only). The rise is attributed to tightening of domestic supply/demand and the current Ukrainian border crisis which has sent crude prices, and in turn gas prices, soaring again. The supply dynamic is now tightly balanced and market prices depend entirely on where the upstream producers prefer to sell their gas. Should the global energy crisis deepen and coal + gas prices continue to rise, it is very possible we will see further upward movement in electricity prices.
As a consequence, we are expecting the gas and electricity market to remain extremely volatile over the next 12 months, and possibly longer.
If you are considering renewing your contract within the next 24 months, we would strongly advise to seek expertise to construct a tailored solution for your business. Please contact TTEG for assistance on:
Ph: 03 9418 3976
Mob: 0410 009 544