Market analysis of 24 May 2023
Queensland recorded a wholesale electricity price high of AUD 12,162.74/MWh at 18:25 on 24 May 2023 and a low of −AUD 40.59/MWh at 10:25. The arithmetic average across its 288 five-minute observations was AUD 477.36/MWh.
Across the day, 14 observations were below zero, a total of 1.2 hours and 38 observations were at or above AUD 300/MWh, a total of 3.2 hours. The spread between the highest and lowest prices was AUD 12,203.33/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 546.97/MWh, Victoria AUD 59.50/MWh, Tasmania AUD 52.63/MWh, South Australia AUD 38.37/MWh. The second chart compares the five regional averages for 24 May 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 24 May 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.
