We watched with interest today as demand crept up in all mainland regions to the point where the NEM-Wide demand rose slightly above 33,000MW for the first time ever, during a summer period.
At 13:40 we see the NEM-Wide demand as 33,025MW in this snapshot from NEM-Watch:
Most notable in this snapshot is the fact that the colour of each mainland region is out of the green (implying moderate) and heading towards red (which would denote peak regional demand) – this is different than the situations we saw:
Though not to jinx his entry, it also means that the entrant with the closest bid to this peak NEM demand is Rick Santin at Powerlink. What will happen over the next couple of months?
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.
Bit of an uncanny coincidence, having posted some concerns about the coming summer 2019-20 only 2 days ago, to find that the AEMO has called for expressions of interest for the Reliability and Emergency Reserve Trader (RERT) Panel across all…
This week saw very low average prices across the NEM (below $21/MWh average across the week in all mainland regions).
Except for 2 half-hours in Tasmania on Tuesday 7th February (when the price rose to just over $1,000/MWh), prices in Tasmania remained at and around $30/MWh for the whole week.
We noted yesterday, in the midst of the excitement, that the previous NEM-wide demand record had been beaten, by virtue of the heatwave assaulting VIC and SA over the day. We spoke too soon, however, as demand continued to climb through the afternoon.
In Queensland we experienced one of the mildest summers I can remember. As a result of this, demand levels were subdued for most of summer. However, for a couple of days in late February, summer finally arrived, and struck with a vengeance.
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