I did think this article was going to be the last, but it’s worth noting briefly the run of dispatch prices up at $1,000/MWh in the QLD region this evening from 17:20 to 18:50 (excepting 17:25 and 18:30).
Here’s the 18:40 dispatch interval captured in this NEMwatch snapshot:
No other comments at this point – might refer back to this event at some other point.
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
Dan shares an updated look at our forecast convergence widget for this coming Friday afternoon, in light of the record breaking demand in the region earlier this evening.
Augurs to be an interesting day in South Australia today, with two (now three) price spikes already this morning – due in part to no supplies from coal, or from wind.
Following yesterday’s warnings about the potential for a tight supply/demand balance in South Australia this week, it was not really a surprise when the SMS alerts from NEM-Watch began buzzing for the 07:20 dispatch interval this morning (NEM time), highlighting that the dispatch price in SA had jumped to $12,199.20/MWh. This has continued through the morning.
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