The AEMO alluded to challenges in Victoria and South Australia with a Tweet at 2.30pm Wednesday afternoon. Market notices also highlighted a forecast lack of reserve (LOR) in both regions in the late afternoon. An Actual LOR1 was declared in Victoria at 16:45 subsequent to line trip in Victoria due to lightning.
With reserves already lacking in the southern states, higher temperatures combined with a credible contingency event in Victoria pushed the price up in Victoria and South Australia for the 17:00 dispatch interval.
Will the additional resources reduce the market volatility this summer?