*Several* price spikes in NSW on Friday morning 21st November 2025 (including large jump in ‘Market Demand’)

Initially, this was a quick article with this NEMwatch snapshot at 08:35 (NEM time) on Friday 21st November 2025 to record some volatility in NSW:

2025-11-21-at-08-35-NEMwatch-NSWspike

– but it might be growing longer ….

PS1 a large jump in demand triggers a second spike

For the 09:10 dispatch interval, a couple things happened simultaneously – our ‘Notifications’ widget in ez2view alerted us to a +436MW jump in ‘Market Demand in the 5-minute period (which is definitely larger than ‘ordinary’):

2025-11-21-at-09-06-ez2view-Notifications-NSW-demandjump

Understandably, this triggered a run up the bid stack, ending with a price approaching the Market Price Cap – as captured in this NEMwatch snapshot at 09:10 (NEM time):

2025-11-21-at-09-10-NEMwatch-NSWspike

About the Author

Paul McArdle
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.

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