Brief Case Study of Sunday 4th February 2024, with low IRPM following high Market Demand

Posted by Paul McArdleSaturday 27th April 2024  1:24 PM   Topic: 2024-02-04 Sunday (High demand, low IRPM, etc), Summer 2023-24 in the NEM

As it happened we had noted ‘NEM-wide ‘Market Demand’ reached 32,938MW on Sunday 4th Feb 2024 (updated)’.

 

Now that we’re reviewing 2024 Q1 more systematically, we’re starting to see other things as well – which are being explored and explained in the GenInsights Quarterly Updates for 2024 Q1 report.  To assist in that process, we’ve posted here this 3-day trend covering Saturday 3rd February, Sunday 4th February and Monday 5th February 2024 (produced with NEMreview v7):

2024-04-27-NEMreview-CaseStudy-2024-02-04

In the 18:40 and 18:45 dispatch intervals the Instantaneous Reserve Plant Margin (i.e. IRPM) dropped to a low point of 17.7%:

1)  Note that this was 25-30 minutes after the daily peak in Market Demand, as noted in the earlier article

2)  We can see in the chart above that supply from Large-Scale VRE continued to drop more quickly than the Market Demand.

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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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