Steps taken by AEMO, so we could (hopefully!) dodge the LOR3 bullet this evening

I noted earlier how AEMO had published Market Notice 97139 at 18:11 about the cancellation of the forecast LOR3 (i.e. load shedding) this evening.

At 18:19 NEM time this evening, the AEMO tweeted this ‘actions taken’ update:

This links to this update at 17:00 on the AEMO website, which I have copied in full below:

5pm Update: AEMO directs generators to relieve LOR 3 condition

13/06/2022

1 min

• • Despite there being sufficient physical generation capacity in Queensland today, AEMO is taking steps to address a critical electricity supply shortfall presently forecast for 6pm to 8pm (AEST) today.
  • Yesterday (12 June), electricity prices in Queensland reached a cumulative high price threshold of $1,359,100 (accumulated over seven days), triggering an administered price cap of $300/MWh under the National Electricity Law and the National Electricity Rules.
  • As a consequence, available offers from generators reduced, contributing to a forecast supply shortfall.
  • To maintain power system security and reliability, AEMO is using its powers under the National Electricity Rules, including to direct generators, to alleviate lack of reserve conditions.
  • At this stage, these efforts have provided sufficient generation to cover the lack of reserve 3 shortfall.
  • The cumulative high price threshold is forecast to be exceeded in some other NEM regions this evening.
  • AEMO will continue to monitor reserve conditions closely in Queensland, and more broadly across the NEM, providing further updates should conditions change.