First scorching summer day for the year and the sky rocketing price of electricity.

The first day of scorching summer temperatures for the year has been matched with elevated electricity prices in New South Wales, Victoria and South Australia for most of the day.  Queensland and Tasmania experienced small patches of high prices yet prices remained elevated for the balance.  Interestingly Tasmania’s dispatch price dipped negative during this time.

Below I have attached two screen grabs from NEM-Watch. The first showing the capital city temperatures over the day and the dispatch price for each state.  The second is a live grab of the mid-afternoon prices.

WattClarity’s guest authors will are busy analysing the data and will be presenting further analysis, should the week end up in extreme territory.

Dispatch Price and temperature graphs

Dispatch Price and temperature graphs

NEM watch: High-Prices shortly after today's peak summer temperature

NEM watch: High-Prices shortly after today’s peak summer temperature


3 Comments on "First scorching summer day for the year and the sky rocketing price of electricity."

  1. Any commentary on the Tesla Battery and it’s impact (if any) on keeping prices down like it was supposed to do?

  2. For the battery, you’d be looking at FCAS prices, which have been reasonable so far. That said, forecast price spikes to $10000 per MWh did not eventuate yesterday.

    What I’d be interested to know is what “negative settlement residues” are and why they can lead to constraints being set on inter-regional interconnections? (for example Market Notice 66430 issued by AEMO this afternoon).

  3. Another fun one today, at dispatch interval 16:40 to 16:45 on 2019/01/22 the price SA, Vic and Tas hit the ceiling of $14500, it then plunged to -$1000, and oscillated between positive and negative price for a few intervals. There appears to be no market notice associated with this event, except for “prices subject to review”.

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