Friday evening price spike in QLD and NSW – with 300MW demand response in QLD

Posted by Paul McArdleFriday 16th July 2021  7:13 PM   Topic: Winter 2021 in the NEM

A very short article this evening with a single snapshot from NEMwatch v10.2 taken at 19:00, but with the 18:00 dispatch interval the point of interest:

2021-07-16-at-19-00-NEMwatch-showingQLD-300MWdemandresponse

The dispatch price spiked above $14,000/MWh in both QLD and NSW for the 18:00 dispatch interval (i.e. the last dispatch interval in the 18:00 thirty minute trading period).  I’m inferring that the subsequent 300MW drop in dispatch target for Scheduled Demand in the QLD region was the result of ~300MW of (spot-exposed) Demand Response in the QLD region … the type which we’ve been serving for what’s approaching 20 years.

We’ll look forward to seeing how both factors evolve through October (whilst also staying clear of these three tripwires) with:

1)  Commencement of Five Minute Settlement on 1st October; and

2)  Commencement of the Wholesale Demand Response Mechanism on 24th October.

 

Nothing further to add at this point…

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About the Author

Paul McArdle
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.

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