Sunrise volatility in NSW on Wednesday 8th May 2024

Following the run of volatility yesterday evening, we’ve seen prices spike up in NSW this morning from the 06:35 dispatch interval, as captured in this snapshot of SMS alerts from our ez2view software:

2024-05-08-ez2view-Alerts-Volatility

The run was continuing through until (and past) 07:25, as shown in this snapshot from NEMwatch:

2024-05-08-at-07-25-NEMwatch-Volatile-NSW

With respect to this snapshot, we see:

1)  Spot price at 07:25 in NSW is $14,799.89/MWh, and also somewhat elevated in the southern regions (but not in QLD) for sunrise

2)  The spot price has been up in NSW continuously since 06:35

3)  In the fuel mix for NSW we see:

(a)  Too early for autumn solar;

(b)  Not much wind;

(c)  More difficult to see as clearly but there is the effect of Vales Point 5 tripping offline at ~01:30 this morning (still offline as we write), as captured in this ‘Notifications’ (alert) fromour ez2view software:

2024-05-08-at-01-31-ez2view-Alert-VP5-offline

  … this is one of a number of coal units offline (there are 2 x Eraring units off on unplanned outage currently also).

4)  We see no support possible from imports in from Victoria

5)  We also see that support via imports from QLD are also limited

6)  But the IRPM for the NSW-only ‘Economic Island’ is still quite healthy.

 

Nothing more 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.

Leave a comment

Your email address will not be published.


*