Bambu is like a MAGAt, an hysterical ninny who'll blame everyone but the truth.Electricity prices are astronomical, sending businesses broke.


Figure 1 illustrates prices increasing from 2015 which can be partially explained by Queensland LNG exports commencing. Not only did this add additional electricity load but it also exposed the east coast gas market (ECGM) to global LNG prices. Shortly afterwards, it was announced the 1,600 MW Hazelwood power station would be closing within three to four months. Most prices eventually began trending down although the impact of the 520 MW Northern closure in 2018 is clearly apparent in SA prices.
In 2020, COVID-19 and the associated lockdowns saw prices in all regions settling below or at the 10-year NEM average LWP. However, these low prices were short lived, with Russia’s invasion of Ukraine leading to unprecedented coal and gas rises in 2022 In addition, some coal mines had flooding issues, the 840 MW Callide C was offline and COVID restrictions had disrupted plant maintenance schedules. Table 2 sets out some basic descriptive statistics for prices over the past 10 years.

Spot market prices and revenues - ten years of historical spot prices
Elevated spot prices have received a lot of attention in recent times, and with justification, following the events of 2022 [1] .
