Batteries continue to reshape the National Electricity Market | Image Credit: Kanomaoi/Stock.Adobe.comRecord renewable energy generation and rapidly growing battery storage helped push National Electricity Market wholesale electricity prices to their lowest June quarter average since 2020, according to the Australian Energy Market Operator’s latest Quarterly Energy Dynamics report. “Record renewable generation, combined with growing battery storage and consumer energy resources, continues to reshape Australia’s energy markets,” Mouchaileh said. The increased availability of lower-cost generation contributed to a 47 per cent year-on-year reduction in average National Electricity Market wholesale electricity prices, which fell to $74/MWh. Despite the growing battery fleet, average wholesale electricity prices in the Wholesale Electricity Market increased 30 per cent year-on-year to $118/MWh. The Quarterly Energy Dynamics also reported improving conditions in east coast gas markets, with average wholesale gas prices falling to $9.08/gigajoule, the lowest June quarter average since 2021, as softer domestic demand outweighed higher international liquefied natural gas prices.