IRPM drops to only 8% NEM-wide

Posted by Paul McArdle Monday, June 13 2022 Topic: 2022 - June - QLD (12th) and NSW, SA and VIC (13th) hit Cumulative Price Cap

Here’s a snapshot from NEMwatch at 18:05 highlighting the NEM-wide IRPM is down to 8.49% (rounded down to 8%):

2022-06-13-at-18-05-NEMwatch-screenshot

Notes:

1)  This shows total Available Generation of 31,679MW ready to supply aggregate ‘Market Demand’ of  of 29,201MW at this point … so a surplus of only 2,478MW NEM-wide.:

(a)  Reserve in QLD is wafer thin

(b)  Reserve in NSW is wafer thin

2)  Remember that it was only on 7th June when the NEM saw aggregate ‘Market Demand’ rise above 32,000MW briefly (i.e. higher than the total amount of capacity we have available across the whole of the market) … how high is it going to climb over the next hour or two?

3)  Wind still trending down around 800MW only.

 

… note that at 18:15 the IRPM is 8.02%

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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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