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.
As a real time reminder of the energy transition challenges, the trip of Origin’s Eraring unit 2 was a significant driver of the price spike in NSW to $15,100/MWh on Tuesday 21st February 2022.
Summer 2005-06 saw Australians sweltering in temperatures 40 degrees and above.
In the National Electricity Market, this led to new peaks in demand and (given the tight supply/demand balance) delivered high (and volatile) spot market pricing.
Here we have compiled a weekly summary of events in the NEM over summer 2005-06.
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