Because we’ll be referring back to it in future, we’ve lifted out Figure 8 from this report (p36/39) and included it here in this belated (and back-dated) article:
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.
Generators used to consider the Australian National Electricity Market (NEM) FCAS causers pays factors (CPF), used to allocate FCAS regulation costs across the market, as an obscure and unimportant technically challenging curiosity. Since 2014, the cost of FCAS regulation services for generators has increased from just under $5 million per year to greater than $60 million for 2016 and now has the attention of all of the generators, especially if their portfolio includes generation assets in regions with a lack of FCAS regulation providers and high prices such as South Australia.
The East Coast power system of Australia has the worst frequency regulation in the developed world. This puts the system at risk whenever an event occurs which requires the generators to respond quickly – they can’t respond quickly if they have to wait for the system frequency to go outside its control system dead band.
Six observations from a chart summarising how capacity, availability and volumes enabled have changed over the early phase of the very fast FCAs markets, since commencement on October 9, 2023.
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