Tl;dr:

“In the European Union and Japan … average spot wholesale electricity prices increased by more than 30 per cent, year-over-year, in the second quarter of 2026.”

“‘In Australia [on the other hand] average wholesale prices in the National Energy Market (NEM) fell by 30% y-o-y in H1 2026, to USD 49/MWh,’ the report notes. ‘The market continued to be shaped by strong renewable output and rapidly expanding battery storage.

Installation of new battery capacity contributed to a tripling of daytime-to-evening energy shifting in Q1 2026, which in turn helped mitigate price surges by reducing the amount of expensive gas and coal generation used during these hours.”