Elevated prices (and demand) in VIC and SA on Sunday evening 10th March 2024

A short article with this snapshot from NEMwatch at the 17:40 dispatch interval (NEM time) to record the end of the second day of searing heat covering parts of south-eastern Australia (the spell of hot weather we wrote about on Friday):

We see:

1)  Both VIC and SA are out of the ‘green zone’ signfying relatively high ‘Market Demand’ in relation to historical records … though still below the red-line ‘all time maximums’.

2)  Prices in this dispatch interval have just risen above $1,000/MWh for the first time, after being in the range $300/MWh to $1000/MWh for a few dispatch intervals previously

3)  The sun is setting, and so is solar yield – and this unfortunately coincides with a lull in wind production (which we’d seen in these forecasts on Friday).

That’s all for now …