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
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.