Yes, prices do jump this high in the middle of the night, occasionally:
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Paul McArdle
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7th February 2006 – price spike in Tasmania
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.
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