• National Energy Market stabilises as Australia moves into milder Autumn weather
• NSW & VIC Schemes announce end to collaboration for hot water product applications
• LGCs & VEECs show further declines

March 2025 NEM report.

In the March 2025 Report, Australia’s National Electricity Market (NEM) experienced a period of relative stability, with spot prices remaining below $100/MWh across all mainland states. This stability was attributed to a combination of moderate weather conditions, consistent renewable energy generation, and a reduction in unplanned generation outages.​

Regional Highlights:

• Queensland (QLD): Maintained an average spot price of $74.91/MWh, similar to February, supported by strong solar output and moderate demand.​
• New South Wales (NSW): Average spot prices remained steady at $90.33/MWh, with no significant volatility observed.​
• Victoria (VIC): Average spot price was $68.55/MWh, consistent with the previous month, due to balanced supply and demand dynamics.​
• South Australia (SA): Observed an average spot price of $91.34/MWh, maintaining its position as the highest among mainland states, influenced by strong renewable generation and moderate demand.​
• Tasmania (TAS): Experienced an average spot price of $121.69/MWh, reflecting unique market dynamics and interconnection constraints.​

The Australian Energy Market Operator (AEMO) anticipates that the transition towards renewable energy sources, coupled with advancements in energy storage technologies, will further enhance grid reliability and reduce price volatility in the coming months.

NSW & Victoria to end joint hot water heater product application process.

This week, the NSW Independent Pricing and Regulatory Tribunal (IPART) and the Victorian Essential Services Commission (ESC) announced they will discontinue their joint hot water heater product application process, effective May 2025.

Previously, both regulators recognised approved products across their respective state energy efficiency schemes, allowing providers to submit a single application for mutual approval. However, from May 2025, providers will be required to apply separately to each state scheme.

NSW-based providers should take particular note: products must receive approval from IPART before installation. Only once approval is granted can installations begin, making the units eligible for Energy Saving Certificates (ESCs) under the NSW Energy Savings Scheme (ESS).

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.

Nick Keynes | Account Manager, Energy & Carbon Services
Nick specialises in Commercial Lighting (NSW, VIC & SA), and energy certificates including ESCs, LGCs & ACCUs.