Ten hours of prices above $100/MWh overnight, across *all* regions

Posted by Paul McArdle Tuesday, April 5 2022 Topic: Autumn 2022 in the NEM

This morning I am greeted by this snapshot from NEMwatch at 07:30:

2022-04-05-at-07-30-NEMwatch-Prices

What particularly jumps out to me are as follows:

(1)  Prices close to $300/MWh in all regions in this dispatch interval.

(2)  The ‘Market Summary’ showing all 15 price metrics in the ‘red zone’ for the current day (i.e. since midnight this morning, even the minimum prices have been elevated):

The lowest any region has been was $164.47/MWh in the TAS region – which was at 06:30 this morning, and then not for long

(3)  The 5-minute Pool Price trend shows that these elevated prices have continued unabated since 19:35 yesterday (Monday) evening … so 10 hours ago now!

So much for the ‘low prices overnight’ heuristic we used to be able to bank on!

(4)  We see in the fuel mix trend that the aggregate wind production being relatively low, and dropping below 1,000MW around 01:30 this morning undoubtedly being one factor.

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About the Author

Paul McArdle
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.

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