At a macro perspective, the following snapshot from NEM-Watch(beta of version 9) clearly shows a significant drop in electricity from brown coal power stations in Victoria and South Australia, compared to what would typically be the case.
Thankfully the temperatures have dropped, also, and so demand in Victoria is considerable lower than the levels seen late last week – otherwise the tight supply/demand conditions of a few weeks ago could have been repeated.
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.
Our Managing Director was asked to speak at the “Queensland Energy” conference in Brisbane on Wednesday 12th March – specifically addressing the topic of price volatility in the NEM.
To provide the basis of discussion during the conference, we focused our analysis solely on Queensland region (to make the topic more manageable).
In our review of volatility in the Queensland region, we focused specifically on 3 core attributes of the market: Queensland dispatch prices; NEM-Wide Instantaneous Reserve Plant Margin; and the concept of “Economic Islands”.
The prior record for ‘minimum demand’ in Victoria seems to have only lasted 8 short weeks, with the level nudged still lower on a sunny Sunday 1st November 2020 (coincident with a bit more freedom for Victorians after lockdown).
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