Key facts
- Gas-powered generation hit its lowest Q3 average since 2000.
- Renewables supplied a record 44.3% of National Electricity Market generation.
- Grid-scale battery capacity more than tripled year-over-year.
- Batteries exceeded gas in supplying evening peak generation for the first time.
- Wholesale electricity prices fell 27% year-on-year.
Australia's gas-powered electricity generation fell to its lowest third-quarter average since 2000, driven by record renewable power generation and a surge in grid-scale battery capacity, the Australian Energy Market Operator (AEMO) reported Friday. Despite lower heating needs, overall electricity demand rose 1.3% in the winter quarter due to electrification, industrial demand, and data center consumption. Renewable sources supplied a record 44.3% of the National Electricity Market's generation, with solar up 30% and hydropower up 15%. Grid-scale battery capacity more than tripled year-over-year, enabling batteries to supply 8% of evening peak demand, surpassing gas's 5.1% share for the first time. Average wholesale electricity prices slumped 27% year-on-year to $63 per megawatt-hour.