Starting from the 17:55 dispatch interval this evening, we have seen a rare occurrence of prices spiking >$1,000/MWh in all five NEM regions simultaneously. Outside of the 2022 energy crisis, this has seldom occured in (at least) the recent history of the NEM.
As time permits, we will endeavour to take a closer look into the market conditions that led to these price outcomes.
Dan is a Market Analyst, who joined Global-Roam in June 2013.
He departed (and returned) for a couple of brief stints overseas, before rejoining the team permanently in late 2019. Alongside his work at Global-Roam, he has undertaken short-term contract roles as an analyst and researcher in various areas of the energy sector. Dan graduated from the Master of Sustainable Energy program at the University of Queensland in 2024.
Sunday 1st October 2023 and the ‘minimum demand’ point for the QLD region (measured by ‘Market Demand’) has fallen lower still on a sunny spring long weekend.
Also in the past week, news media (claiming to have sighted some of the ‘Electricity Supply and Reliability Check Up’ from MJA with respect to Eraring Power Station) report the potential extension of service.
2 Commentson "Rare NEM-wide price spikes on Monday July 29th 2024"
Blocking high causing a significant downturn in wind production.
Callide C3 is apparently offline as well for another month.
Businesses in general are at a 25yr high for bankruptcy/insolvency. Nothing to see here folks.