Latest Electricity Market News

HMC Capital has completed its acquisition of Neoen Australia's Victorian assets, adding 652 MW of operational battery storage and a 2.8 GW development pipeline to its energy transition platform. This strategic move positions HMC as a growing leader in Australia's renewable energy sector.

AGL Energy has greenlit a major $800 million investment in a 500 MW grid-scale battery in New South Wales, marking a significant step in its clean energy transition.

QPM Energy has successfully completed major commissioning runs at its Townsville Power Station, generating over 4,700 MWh and preparing to take operational control. Final steps are underway to leverage new gas agreements and electricity market opportunities.

Carnarvon Energy is set to acquire up to a 19.9% stake in Strike Energy through an $89 million investment, positioning itself to benefit from Strike’s expanding gas portfolio in Western Australia.

Meridian Energy’s June 2025 report reveals hydro storage levels exceeding historical averages and a notable rise in retail electricity sales, despite lower generation prices. The company also signals the end of its smelter demand response agreement.

QPM Energy Limited has launched the Isaac Energy Hub with its first stage, a 112MW gas-fired power station, aiming for mid-2027 commissioning. The company is raising $12 million to support project development and expand its integrated energy utility footprint.

GenusPlus Group has secured a $105 million contract to design and build the Reeves Plains Battery Energy Storage System in South Australia, marking a strategic expansion into the renewables sector.

GenusPlus Group Ltd has landed a $65 million contract to design and build the Merredin Battery Energy Storage System in Western Australia, marking a significant step in its renewable energy expansion.

Meridian Energy’s May 2025 report reveals rising hydro storage levels and a dip in national electricity demand, alongside mixed retail sales performance and lower generation prices.

Meridian Energy and New Zealand Aluminium Smelters have agreed to end their current demand response arrangement early, with NZAS ramping up production from mid-June 2025. This move reflects improved hydro storage and bolstered confidence in New Zealand’s winter electricity supply.

Origin Energy has refined its FY25 earnings forecast, buoyed by strong wholesale performance but tempered by Octopus Energy's UK weather-related losses. Despite setbacks, Octopus continues to expand its retail footprint.

Contact Energy Limited has announced a court-approved scheme to acquire Manawa Energy Limited, offering Manawa shareholders $1.12 cash plus 0.5830 new Contact shares per share, representing a significant premium. The merger aims to create a diversified renewable energy portfolio with substantial synergies and growth prospects.