Fair enough for VIC and SA (as they are unaffected by this heatwave now, having had their share beforehand),but it’s understandable that people are asking questions about what’s happening in NSW and QLD!
In the 17:05 dispatch interval we see the Queensland price jump right back up to $12,594/MWh as shown in this NEMwatch snapshot here:
This whole day (actually, a couple of days) is going to take some focused analysis … and remember that we did away with the 5/30 issue with the commencement of Five Minute Settlement on 1st October 2021!
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.
For several days in early December, temperatures reaching 40 degrees in Queensland and New South Wales cause airconditioning load (and hence total demand) to soar in both regions.
The high demands resulted in very high prices being experienced in both QLD and NSW (and also the SNOWY region). Both VIC and SA were insulated from the high prices because (at least in part) of the fact that transfers over the SNOVIC interconnector were constrained to minimise negative inter-regional surplus
Guest author Carl Daley from EnergyByte provides this summary of record-setting spot price outcomes throughout April. Carl also looks at how generator outages, rising global LNG and thermal coal prices, and other factors are putting pressure on spot prices.
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