What happened in 2024 to impact Australian energy prices

Every year, the National Energy Market (NEM) is impacted by a new set of intertwining and complex circumstances – some acts of government, some acts of the gods – that together determine what business and individual consumers will pay for their energy usage.‍ So how did that all pan out in 2024? In this article we discuss the major elements influencing energy rates this year, providing insights into global coal supply, Australian weather patterns, government interventions, and the transition to renewable energy sources. By the end, you'll have a comprehensive understanding of how these factors fuse to shape the energy landscape and what that means for your energy bills.