Prices in South Australia and Victoria have been high this afternoon, jumping up over $2000/MWh in both states at 3pm NEM-time today. Watch the events unfold in this video using the playback function* in NEM-Watch (click the button in the bottom right to view full-screen):
*The playback function is a standard feature in all models of NEM-Watch.
Perhaps missed amongst all the bushfire-related action in the NEM, the SA Minister for Energy last week initiated the Retailer Reliability Obligation. Guest author Allan O’Neil tries to come to grips with what this means, and what happens next?
Some high temperatures in Victoria and South Australia drive demand higher and, because of transmission constraints, the IRPM in the Economic Island lower.
Out-of-the-blue, the price spikes up near $10,000/MWh in South Australia on an otherwise ‘boring’ day … a sign of what we should expect increasingly in future?
Some further analysis of the MT PASA and ST PASA forecasts for other regions of the NEM (SA, TAS, NSW and QLD) for the day of 29th January 2009 – when a new record NEM-wide demand was established.
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