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