Price volatility in the QLD region on Sunday evening, 30th January 2022

Not content with leaving South Australia as the only region to see price volatility today, the QLD region contributed some of its own this evening, beginning with $1,001.01/MWh at 18:30 following a 30-minute period above the $300/MWh cap price.

Here’s a snapshot from NEMwatch at 18:40 (NEM time) this evening with the price at the $15,100/MWh Market Price Cap (MPC):


With respect to the numbered annotations on the image:

1)  The ‘Market Demand’ in the QLD region had begun to decline, but spiked +60MW from 8,079MW to 8,139MW in this dispatch interval;

2)  This spike in demand combined with the constrained imports from NSW

3)  … and the disappeared production from solar (down to 15MW from Large Solar in aggregate as FinalMW for 18:40, and with Small Solar not published at this point but probably quite small).

4)  To produce drive the price spike higher.

Given the increasing tightness forecast through until Thursday this week, I thought this might be a useful marker for what comes next …

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.

1 Comment on "Price volatility in the QLD region on Sunday evening, 30th January 2022"

  1. Queensland has now cracked $100/MWh as the year-to-date 2021-22 average wholesale electricity price.
    To put this in perspective Queensland is around a 50% premium on the NSW wholesale price of $67.94/MWh and nearly 3 times the wholesale price of Victoria and Tasmania ($38.77 and $37.00).
    As a consumer advocate we know this is disastrous for small business which are the biggest consumer of grid supplied electricity and the largest employer of Aussies (nearly 5 million Aussies). Affordable electricity is one of the keys to Australia’s Covid19 recovery. Main stream media hasn’t even acknowledged this sad milestone.

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