Whilst working on other things, the red price boxes in NEM-Watch and audible alerts drew our attention to the fact that the summer temperatures in Victoria have driven demand out of the green zone today – and, whilst still 2,000MW below its all-time record, have contributed to the first price spikes of summer:
Stay tuned to WattClarity to see how this summer evolves – and for your chance to enter our traditional summer competition and your chance to win.
One of three founders of Global-Roam back in 2000, Paul has been CEO of the company since that time.
As an author on WattClarity, Paul's focus has been to help make the electricity market more understandable.
Following from the interest generated in the article published in the AFR, we completed some analysis of the trend in IRPM over the history of the NEM up until June 2007.
The results of this analysis revealed that at no time before 2007 had the IRPM even dropped below 12% and that, except for the 2-day period (19th and 20th June) the IRPM had not dropped below 10%.
This week saw a new record demand in NSW of 13,292MW on Thursday 2nd February. Correspondingly, average prices were above $100/MWh in both NSW and Queensland – but the price spikes did not transfer to the southern regions.
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