With a Beefeater 5 Burner BBQ on the line, along with a host of other prizes, interested participants of our annual demand forecast competition (entries now closed 🙁 ) would have been keeping a keen eye on demand during the week.
Summer officially began on Tuesday and by 10am we got out first taste of it with the thermometer reaching 35°C in Sydney and 30°C in Brisbane. By Tuesday afternoon the temperate in Sydney had dropped slightly to 32°C but that didn’t stop demand in New South Wales rising up to 11527 MW with prices hitting $365.07 at 3:45pm. Meanwhile, demand in Queensland also rose above 8000MW at that same time interval.
A screenshot from NEM-Watch at 3:45pm on the first day of summer 2015-16.
Dan Lee first started at Global-Roam in June 2013. He has departed (and returned) for a couple of stints overseas in that time, but rejoined our team permanently in late 2019.
More recently, Dan's focus has been on growing his understanding of the market and developing his analytical capabilities. He is currently enrolled in the Master of Sustainable Energy program at the University of Queensland.
AEMO forecasts NEM-wide demand to exceed 32,000MW tomorrow (Monday 18th December), which is far higher than seen in December 2016, and one reason for the LOR1 low reserve notices.
Out of curiosity, and driven by questions received from several people, I’ve invested a bit of time today to delve further into the record low level of Scheduled Demand seen in the Victorian region (and perhaps also across the whole of the NEM) on Saturday 29th August 2020.
The third and final part of this series of articles from Greg Williams about opportunity costs in electricity markets – this time narrowing in on policy implications.
For reasons explained herein, we’re unable to set aside the time required to run a competition on the “best peak demand forecaster in the NEM” for summer 2017-18.
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