As forecast on Friday, we’re seeing moderately high demand in SA and VIC on Saturday evening 9th March 2024.
Here’s a snapshot from NEMwatch at the 18:25 dispatch interval showing ‘Market Demand’ in both regions out of ‘the green zone’ – with SA at 2,726MW and VIC at 8,303MW:
There’s still a bit of wind around this evening in SA (and also in VIC), which is one reason that prices, whilst elevated somewhat, are not sky-high.
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.
Wednesday 28th January saw demand across the NEM jump to unprecedented levels, setting a new record of 34,843MW at 16:00 NEM time. On Thursday 29th January, we saw the demand increase still further, leading to prices that stayed high for much of the day (to the point where the Cumulative Price Threshold was reached in VIC and SA and price caps were imposed), and a relatively small amount of involuntary load shedding occurring in VIC and SA.
Polls have closed and counting has begun in the South Australian state election … and the NEM has thrown up this price spike as a reminder that energy policy will remain a focal point for whoever wins.
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