{"id":22076,"date":"2024-06-11T13:00:00","date_gmt":"2024-06-11T03:00:00","guid":{"rendered":"https:\/\/www.originenergy.com.au\/blog\/?p=22076"},"modified":"2024-10-01T16:48:10","modified_gmt":"2024-10-01T06:48:10","slug":"origin-zero-quarterly-market-report-q3-fy24","status":"publish","type":"post","link":"https:\/\/www.originenergy.com.au\/blog\/origin-zero-quarterly-market-report-q3-fy24\/","title":{"rendered":"Origin Zero Quarterly Market Report Q3 FY24"},"content":{"rendered":"\n

Welcome to Origin Zero\u2019s Quarterly Market Report, which shares energy trends, key market events that can impact energy prices and supply, and news and insights from our team.  Our ambition is to lead the energy transition through cleaner energy and customer solutions. Here are our industry trends and energy market reports for the period of 1 January \u2013 31 March 2024.<\/p>\n\n\n\n

Our team of experts is here to help your organisation find tailored solutions to meet its energy needs and support its decarbonisation journey.<\/p>\n\n\n\n

Table of contents<\/h2>
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1. Energy Market reports<\/a>
2. Product explainer<\/a>: Virtual power plant
3. Customer stories<\/a>: Melbourne City Football Club
4. Origin news and updates<\/a>
4.1 Origin has agreed to acquire the Yanco Delta Wind Farm in the Riverina<\/a>
4.2 Origin acquires renewables developer Walcha Energy<\/a>
5. Energy market updates and reports<\/a>
5.1 The expanded Capacity Investment Scheme<\/a>
5.2 Renewables continued to increase NEM market share<\/a><\/p>\n\n\n

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1. Energy Market reports<\/h2>\n\n\n\n

The average NEM spot electricity price for the March 2024 quarter was $78\/MWh:<\/p>\n\n\n\n

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  • $30\/MWh higher than Dec-23 quarter, reflecting higher demand from warmer weather and increased interconnector and baseload generator outages.<\/li>\n\n\n\n
  • $5\/MWh lower than Mar-23 quarter, reflecting stronger baseload generator availability and higher renewable generation Source: AEMO Gas price Q3 (Mar-23) Q3 (Mar-24) Electricity price Q3 (Mar-22) Q3 (Mar-22).<\/li>\n\n\n\n
  • Average domestic spot gas price for Mar-24 quarter was $12\/GJ, relatively flat on both Dec-23 quarter and Mar-23 quarter.<\/li>\n<\/ul>\n\n\n\n
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    2. Product explainer<\/h2>\n\n\n\n

    Virtual power plant<\/h3>\n\n\n\n

    Origin\u2019s Virtual Power Plant (VPP), also known as \u2018Origin Loop\u2019, uses smart meter data and AI to aggregate and orchestrate hundreds of thousands of distributed energy sources in homes and businesses to help relieve pressure on the grid in times of high demand.<\/p>\n\n\n\n

    The video below is an example of a business customer connected to the VPP with solar, battery, and other assets. It demonstrates how Origin Loop can assist business customers in lowering their costs and CO2 emissions.<\/p>\n\n\n\n

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