And so it begins this evening, with an SMS alert highlighting the drop in Instantaneous Reserve Plant Margin (IRPM) to only 13% this evening … here it is, in a NEMwatch snapshot from 17:30:
Note that the Cumulative Price for the NSW region is now above $1,200,000 … so it seems likely NSW will also be under Administered Pricing by tomorrow morning…
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.
Available Generation in QLD has been quite the see-saw following the imposition of Administered Pricing on Sunday evening, 12th June 2022. This is the 3rd occasion this evening we see ‘Actual LOR2’ warning.
On Sunday 1st September 2024 the ‘minimum demand’ point in NSW ratcheted lower still – a drop of 6% on the preceding ‘lowest ever’ point set just over 10 months ago.
The run of prices at $0/MWh and below is continuing in Queensland region this week as we pass into spring (many dispatch intervals today down as low as the Market Price Floor at -$1,000/MWh). This begs a few questions…
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