It’s very hot and humid today outside, when heading out for lunch as Monday’s heat has continued.
The following snapshot from NEM-Watch at 13:50 market time highlights how Queensland demand has climbed above 8,200MW and (if the AEMO’s predispatch forecast comes true*) will reach 8,443MW around 17:00
* one of the factors that might prevent the demand reaching this mark is if the storm activity (as noted in this tweet) arrives in the south-east earlier than that time:
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.
With summer 2019-20 fast approaching, we’ll use the refresher on the two core components of risk (probability and consequence) to unpick what the real issue is with respect to concerns about overheating electricity supplies this summer, especially in the Victorian region.
Looking further (after making the first post today) I see that the demand did rise above 30,000MW across the Australian National Electricity Market today – still a very low level for the highest demand so far this summer…
A short note about this evening’s price volatility in QLD and NSW with tight supply-demand balance caused by import limitations (amongst other things).
After watching electricity spot prices in Queensland remain stubbornly high over the weekend, we invested some time today to assess the extent to which these price patterns had ever been seen before – in the 15 years of NEM history.
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