A spike at 16:15 hints at volatility to resume in SA with the sun setting, on Thursday 4th May 2023

Posted by Paul McArdleThursday 4th May 2023  4:55 PM   Topic: Autumn 2023 in the NEM

The volatility this morning in South Australia lasted from 23:50 last night through until 08:35 (i.e. looking just at prices spiking >$1,000/MWh).

Another spike occurred this afternoon at 16:15 (to $1,003.94/MWh).  With low wind conditions persisting and imports from VIC significantly constraints because of the outage reflected in the ‘I-VS_050’ constraint set through until Saturday evening (but then back on 10th May), will prices bounce again as soon as the sun’s gone?

Here’s a snapshot from NEMwatch at 16:40:

2023-05-04-at-16-40-NEMwatch-SA-volatility

 

The price has spiked at 16:50 as I hit publish, so more to follow … perhaps.

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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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Paul McArdle Wed 28th January 2009 

New record all-time NEM-wide demand (and for VIC and SA) today!

The day is not over yet, but we thought you would be interested in the attached snapshot highlighting the first of the occasions on the day when prices jumped to VOLL in SA and VIC as a result of searing temperatures stopping the tennis, and melting VIC and SA into new demand records for each region.

1 Comment on "A spike at 16:15 hints at volatility to resume in SA with the sun setting, on Thursday 4th May 2023"

  1. Jennifer Brownie | Saturday, May 6 2023 at 3:13 pm | Reply

    Why did small-scale solar drop off vertically at around 1600 hours but not large-scale solar??

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