In addition to this AEMC Rule Determination, I also noted that AEMO published this ‘RERT Contracted Report for 1st and 2nd February 2022’ back on 2nd March 2022:
It’s a short 2-page report that:
1) Provides a list of a number of contributors for the supply of RERT in QLD (totalling 331MW in aggregate but not all concurrently).
(a) RERT was dispatched in QLD on Tuesday 1st February 2022, as we noted on the day;
(b) The AEMO’s earlier report from 24th February 2022 estimated that the total volume* of supply at 1,448MWh at a total cost of just below $40M:
>> * remember that a MWh is a volume and a MW is a rate (instantaneous or average) … as illustrated at the start of this explainer article .
i. Comparing the financial and physical numbers, this equates to an average cost of $27,450/MWh … much higher than the current Market Price Cap, noting that different suppliers will have been paid different amounts, and different rates.
ii. I am unsure, at this stage, if this $40M cost would include what is noted in (2) and (3) below … and it won’t include the cost of compensation paid elsewhere.
2) There was also a small amount (i.e. 8MW only) contracted in QLD for 2nd February (though not required, at the end of the day).
3) There was also a significant amount (i.e. 256MW in aggregate, but not concurrently) contracted in NSW for Tuesday 1st February 2022 (though this also was not dispatched).
We have not finished our review of this event (assembled under this ‘Headline Event’ heading) and will follow on from Linton’s 1st article and 2nd article about what happened with rooftop PV as time permits….