Market analysis of 2 March 2024
Tasmania recorded a wholesale electricity price high of AUD 1,656.82/MWh at 15:30 on 2 March 2024 and a low of −AUD 34.45/MWh at 14:15. The arithmetic average across its 288 five-minute observations was AUD 94.32/MWh.
Across the day, 1 observations were below zero, a total of 0.1 hours and 9 observations were at or above AUD 300/MWh, a total of 0.8 hours. The spread between the highest and lowest prices was AUD 1,691.26/MWh.
The Five-Minute Price Curve
The first chart shows each five-minute price for Tasmania 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 75.49/MWh, Queensland AUD 74.29/MWh, South Australia AUD 36.11/MWh, Victoria AUD 29.85/MWh. The second chart compares the five regional averages for 2 March 2024.
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 2 March 2024. 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.
