ASX Electricity Futures and Options – Response to AEMO announcement
Notice reference number:0649.22.06
Date published:15/06/22
Effective as of:15/06/22
Last updated:15/06/22
ASX is aware of the announcement made by Australian Energy Market Operator (AEMO) today at 2:05pm advising the suspension of the spot market until further notice.ASX electricity futures and options contracts will continue to operate under the standard trading hours as per the contract specifications.ASX will continue to determine the daily settlement prices per the standard methodology under the ASX 24 Operating Rules.
ASX is in ongoing contact with AEMO Settlements in relation to the certainty of final spot prices on Tuesday 5 July which will be used to determine the Expiry Settlement Prices of the contracts detailed above.
ASX has been communicating with ASIC regarding the current situation.
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.
Eight days after the event occurred, on Friday 13th September 2024 the AEMO published this ‘Preliminary Report: NEM Market Suspension on (Thursday) 5 September 2024’.
Following a conversation with one journalist yesterday, and a tweet from another journalist, here’s an updated trend of NSW ‘baseload’ futures contract prices for 12 x quarters.
Reaching for the same NEMreview query we’ve used a few times in 2024 Q2, we take a look at how futures prices have traded in NSW, following the announcement of agreement to extend the service life at Eraring Power Station.
… flagging (for WattClarity readers and subscribers) a useful contribution from Ben Skinner at the AEC to explore and explain some aspects of the June 2022 Market Suspension and surrounding factors.
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