“The energy price in New South Wales increased to the market cap price of $10,000/MWh at trading intervals (TIs) ending 13:00hrs, 13:30hrs and 15:00hrs on Friday 31 October 2008. The Queensland region saw energy prices rise to a maximum of $3,618.51/MWh at TI 14:30hrs. Mainland Frequency Control Ancillary Services (FCAS) prices reached $105.13/MWh at 14:50hrs. The Tasmanian region saw a negative energy price of -$0.43/MWh for the trading interval ending 15:30hrs. Energy prices in other regions were not materially affected.”
A Market Event Report has been published on the NEMMCO AEMO website at
NEMMCO says that a system incident report covering the reliability of the power system during this event will be published separately (and we’ll link to it, when we see it).
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.
A quick snapshot from NEMwatch at 14:20 today highlighting the loss of approximately 2000MW of demand this afternoon – dropping the level of Scheduled Demand down to 3,775MW: The AEMO Market Notice highlighted says: ——————————————————————- MARKET NOTICE ——————————————————————- From : …
Based on forecasts NEMMCO had been providing through their PASA process, we expected that it might prove that this week would deliver huge demand levels, and high prices.
Not to disappoint, the market did deliver high levels of demand in all regions:
(a) Peak demand levels were reduced somewhat from the huge levels the previous week in Victoria and South Australia;
(b) Demand levels were also still building to the record level to be experienced the following week in NSW;
(c) Peak demand levels in Queensland were fairly steady (and high) for most weeks of summer.
(d) In combination, a new NEM-wide peak demand target of 30,994MW was set on Monday 23rd January.
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