Whilst the heat down south has dissipated, Queenslanders have been sweating through some hot and humid days over the past week – these conditions drove electricity demand in Queensland into out of the “boring” green zone and into the orange zone above 8,000MW this afternoon.
Taking advantage of the higher demand, generators were able to enjoy a couple of price spikes through the day – such as this spike to the Market Price Cap (MPC) of $13,100/MWh (formerly known as VOLL) snapped from the newly released NEM-Watch version 9:
Paul was one of the founders of Global-Roam in February 2000. He is currently the CEO of the company and the principal author of WattClarity. Writing for WattClarity has become a natural extension of his work in understanding the electricity market, enabling him to lead the team in developing better software for clients.
Before co-founding the company, Paul worked as a Mechanical Engineer for the Queensland Electricity Commission in the early 1990s. He also gained international experience in Japan, the United States, Canada, the UK, and Argentina as part of his ES Cornwall Memorial Scholarship.
Carl Daley of EnergyByte, examines recent energy and gas price volatility, leading to the conclusion that the May to July period in QLD and NSW has been the biggest shock to the spot market in history, and the forward price movements are rivalling the record setting year of 2007.
What’s shown in the NEM-Watch snapshot above above are boundaries between NEM Regions, as distinct from state boundaries (though in practical terms it’s pretty much the same thing at present).
Hence, it’s more a matter that Canberra is tightly meshed in the NSW region so does not need its own pricing region – moreso than the fact that its electricity demand is relatively small.
For many years at the start of the NEM there was a Snowy Region between NSW and Victoria – as captured in this snapshot on 7th December 2005. Snowy was abolished from 1st July 2008 with part allocated to NSW and part in VIC.
Is the ACT too small to be included ?
Thanks for the question, Keith
What’s shown in the NEM-Watch snapshot above above are boundaries between NEM Regions, as distinct from state boundaries (though in practical terms it’s pretty much the same thing at present).
Hence, it’s more a matter that Canberra is tightly meshed in the NSW region so does not need its own pricing region – moreso than the fact that its electricity demand is relatively small.
For many years at the start of the NEM there was a Snowy Region between NSW and Victoria – as captured in this snapshot on 7th December 2005. Snowy was abolished from 1st July 2008 with part allocated to NSW and part in VIC.
Does this answer your question?
Paul