Market analysis of 16 March 2023
Queensland recorded a wholesale electricity price high of AUD 15,500.00/MWh at 17:55 on 16 March 2023 and a low of −AUD 315.76/MWh at 10:15. The arithmetic average across its 288 five-minute observations was AUD 523.88/MWh.
Across the day, 7 observations were below zero, a total of 0.6 hours and 23 observations were at or above AUD 300/MWh, a total of 1.9 hours. The spread between the highest and lowest prices was AUD 15,815.76/MWh.
The Five-Minute Price Curve
The first chart shows each five-minute price for Queensland through the day, with times in fixed UTC+10. Timing matters for any operator: a battery or flexible load gains from the gap between the cheapest and dearest intervals, while a generator’s result depends on when its energy was delivered.
How The Five Regions Compared
Daily average prices in the other regions were: New South Wales AUD 476.41/MWh, Tasmania AUD 43.11/MWh, South Australia AUD 32.36/MWh, Victoria AUD 24.09/MWh. The second chart compares the five regional averages for 16 March 2023.
What The Day Means For Operations
For a battery operator, the question is where charging and discharging belonged within this curve. For a generator or retailer, the same timestamps show which intervals carried the most value or cost. Reviewing the day interval by interval keeps these signals visible where a daily average would hide them.
This analysis uses Network Map’s regional observations dated 16 March 2023. Prices are in Australian dollars per megawatt-hour, times use fixed UTC+10, and daily averages give equal weight to each five-minute observation.
Explore The Data
Markets, Revenue Reconciliation, Battery Revenue Benchmarks.
