With the same network outage noted on Friday evening continuing, and wind conditions having dropped again mixed with a bit of cloud cover, it’s not really a surprise so see prices elevated on Sunday 13th August, as shown in this snapshot from NEMwatch at 14:40
The snapshot shows that prices have been elevated through much of the weekend (spiking a bit further to $1,000/MWh here).
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.
As Q2 2021 unfolded, it seemed that there were many instances where prices spiked during evening demand peaks – and that wind output was low at the time. So I took a closer statistical look…
Returning to the theme of analysis of Q2 prices (completed in 2017 and 2016 due to Q2 historically being an uneventful period) we see that prices have backed off from the “off the charts” level of 2017, but are still much higher in all regions than most other regions. In some cases results are second worst in 20 years.
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