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.
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 …