Spike in prices in part caused by coal-fired power plants cutting output, says analyst
Australia’s wholesale power costs are soaring, with prices for most of the national electricity market running at double the rate promoted by the Morrison government in last month’s budget.
April prices are forecast at $175 per megawatt-hour in Queensland, the most among the major east coast states, ASX futures data shows. New South Wales isn’t far behind at $173/MWh, while South Australia at $150 and Victoria just above $100.