RERT negotiations underway in NSW … at the same time as the NSW spot price is negative and forecast spikes have disappeared

I’ve noted this on social media (such as via LinkedIn here) but worth recording this strangeness today here:

2023-12-14b-WattClarity-NSW-RERT-negotiations

It’s a strange NEM we live in these days, where we have:

1)  The AEMO ‘intending to commence’ RERT negotiations for this afternoon and evening in NSW (as Dan noted just before);

2)  At the same time as both:

(a)  The current spot price in NSW is negative; and

(b)  Forecasts for price volatility later around and after sunset have moderated significantly – as noted in this updated view of the ‘Forecast Convergence’ widgets in ez2view at the 14:20 dispatch interval (NEM time):

2023-12-14-at-16-20-ez2view-NSW-ForecastConvergence

 

Nothing further, at this point …


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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