Yesterday at the Clean Energy Summit (day 1) the AEMO CEO, Daniel Westerman noted that AEMO had again issued a ‘Threat to System Security’ notice in relation to Iona storage levels.
I thought it would be worth copying in this chart of projected depletion rates for broader reading:
The notice includes:
‘Under rule 341 of the NGR, AEMO is updating participants on the threat to system security issued on 11/07/22 in the Declared Transmission System, due to low Iona underground gas storage inventory and the risk of supply shortfalls due to Iona inventory depletion this winter.
Iona storage inventory has reduced at an average daily rate of ~200 TJ/d since 11 July 2022, when it was 11.6 PJ to 10.2 PJ on 17 July. If this rate of decline continues, Iona storage inventory will reduce to 6 PJ on 6 August. At this inventory level, Iona supply delivery capacity may begin to reduce due to low storage reservoir levels, with this supply capacity reduction increasing if the Iona inventory continues to decline.
This reduction in Iona supply capacity increases the risk of curtailment during peak demand days and during periods of high gas generation demand.
AEMO has determined that there is a possibility that market or operational responses may prove insufficient to alleviate the threat. AEMO are considering all other possible options prior to intervening.’
This information has been published at the bottom of the page here by the AEMO.
PS1 – AEMO invokes Gas Supply Guarantee Mechanism
Missed it when I posted this earlier, by this AEMO media release yesterday afternoon noted:
‘AEMO has activated the Gas Supply Guarantee mechanism to secure additional gas supplies from Queensland-based gas producers to support gas-powered electricity generation in the National Electricity Market (NEM).
The producers and pipeline operator have responded positively to the request for additional gas supply. AEMO will continue to work with the parties to understand gas supply availability.
AEMO expects the gas supply guarantee and threat to system security mechanisms to need to remain in effect until 30 September 2022 or until gas supplies are sufficient and the threat to gas supply caused by Iona storage inventory depletion has subsided. ‘