Mainland region price spikes on Tuesday 6th July 2021


Posted ~17:45

Yesterday we saw relatively high winter evening peak in demand, coincident with low Instantaneous Reserve Plant Margin right across the NEM – but relatively subdued prices.

Not so much this evening (Tue 6th July 2021) ….

Here’s a snapshot from NEMwatch v10.2 (the version being developed for Five Minute Settlement) at the 17:30 highlighting several things:

2021-07-06-at-17-30-NEMwatch-spike

I’ve annotated how:

1)  ‘Scheduled Demand has climbed out of the ‘green zone’ in NSW and we can see it is climbing further at this time.  So with it NEM-wide demand as well.

2)  The IRPM right across the NEM has dropped under 12% … hence the red alert colour in NEMwatch above.

3)  Price have obviously spiked in all 4 x Mainland regions (this was the first of a number); and

4)  Supply from Wind (and, of course, Solar PV) has declined this evening, with it looking like it will continue to trop further for a while.

… and there are other observations that can be made.

 

With gas prices elevated currently, this will make for ‘interesting’ viewing this evening…

About the Author

Paul McArdle
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.

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