(Early!) winter evening volatility returns to QLD and NSW on Wednesday 24th May 2023

As has been the case for a number of days recently (like Saturday 20th May), we’re seeing volatility currently in QLD and NSW, as shown in this snapshot from NEMwatch at 17:50:



As per the numbered annotations on the image:

1)  Volatility began at 17:30 with spikes up towards the Market Price Cap and has continued since that time

2)  NEM-wide ‘Market Demand’ is quite modest, at just over 28,000MW

3)  There’s a fair amount of wind production currently (which is different than yesterday)

4)  Prices are split because of constraints on VIC1-NSW1 interconnector … which is being forced to flow south currently, despite the price differential.

5)  The IRPM for the QLD+NSW ‘Economic Island’ is down at only 7% at this dispatch interval:

(a)  With 19,957MW available capacity supplying 18,640MW net ‘Market Demand’ (i.e. including the 275MW export to VIC);

(b)  Leaving 1,317MW spare capacity across NSW and QLD:

i.  at any price.

ii.  some of which might also be constrained.

(c)  Hence 7.07% IRPM before rounding.

6)  There’s an Actual LOR1 condition in the NSW region currently.


Nothing more at this point.

About the Author

Paul McArdle
One of three founders of Global-Roam back in 2000, Paul has been CEO of the company since that time. As an author on WattClarity, Paul's focus has been to help make the electricity market more understandable.

Leave a comment

Your email address will not be published.