TAS spot price at $15,100/MWh with near-record Market Demand … and NEM-wide IRPM hits a low of 4.33% Tuesday morning

Here’s a snapshot from NEMwatch at 08:15 this morning:

There’s many things that could be highlighted in this snapshot, but I’ve particularly singled out the following:

1)  For the TAS region, with temperatures so low it’s understandable to see ‘Market Demand’ at 1,733MW … which is well into the ‘red zone’ with reference to the historical all-time record of 1,781MW by that measure.

2)  This factor alone, and the general shortage NEM-wide, is driving TAS spot price to the $15,100/MWh Market Price Cap:

(a)  it’s been there consistently since 07:10

(b)  this is having the effect of rocketing up the Cumulative Price in TAS as well (the only reason not to have struck the CPT)

3)  On the broader supply-demand front, the NEM-wide IRPM is shown at 11% in the snapshot above:

(a)  Which is quite low

(b)  But (comparatively speaking) well above the level seen at 07:15 earlier today (a jaw-dropping 4.33%), as captured in this run of SMS alerts

Whilst we managed to sail through with no calamity and it’s on the way back up now, the reserve margins were wafer thin.