Market analysis of 2 May 2024
New South Wales recorded a wholesale electricity price high of AUD 15,357.49/MWh at 17:50 on 2 May 2024 and a low of −AUD 35.09/MWh at 11:10. The arithmetic average across its 288 five-minute observations was AUD 207.97/MWh.
Across the day, 9 observations were below zero, a total of 0.8 hours and 6 observations were at or above AUD 300/MWh, a total of 0.5 hours. The spread between the highest and lowest prices was AUD 15,392.57/MWh.
The Five-Minute Price Curve
The first chart shows each five-minute price for New South Wales 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: Victoria AUD 119.13/MWh, Tasmania AUD 105.38/MWh, South Australia AUD 103.01/MWh, Queensland AUD 84.98/MWh. The second chart compares the five regional averages for 2 May 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 May 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.
