Spot price volatility has begun (in QLD on Friday 3rd February 2023)

Here’s a snapshot from NEMwatch in the 16:30 dispatch interval with the dispatch price up at $1,297/MWh (and expectations it will climb higher over the evening):

2023-02-03-at-16-20-NEMwatch-QLD-9794MW-1297bucks

Note that:

1)  The price had spiked above $1,000/MWh once earlier (to $1,201/MWh at 15:50) but we did not have time to note it then

2)  The ‘Market Demand’ shown here is up at 9,794MW, well up in the ‘red zone’:

(a)  So still 325MW below the all time maximum (up at 10,119MW back on 8th March 2022)

(b)  But, if forecasts hold true, well on the way to a new all-time maximum in another hour or two.

 

That’s all for now…

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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