Cloud and rain in NSW leads to more elevated prices during the day

Posted by Paul McArdle Wednesday, May 8 2024 Topic: 2024-05-08 NSW exceeds the CPT and enters Administered Pricing

This morning we wrote about ‘Sunrise volatility in NSW on Wednesday 8th May 2024’.

We’re still keeping an eye on what’s unfolding today, and worth a short middle-of-day article with this snapshot from NEMwatch at 12:15 highlighting how prices have been more elevated (in NSW) through a number of dispatch intervals during the middle of the day:

2024-05-08-at-12-15-NEMwatch-Elevated-NSW

There are other factors at work, but worth flagging the effect of cloud cover over coastal (i.e. population) areas across NSW that is putting a damper on rooftop PV and hence supporting higher-than-usual levels of Market Demand … which is leading into higher pricing.

Here’s a snapshot from the BOM satellite image at 11:30 (so ~45 minutes before the NEMwatch snapshot above):

2024-05-08-at-11-30-BOM-Cloud-Surface

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About the Author

Paul McArdle
One of three founders of Global-Roam back in 2000, Paul has been CEO of the company since that time. As an author on WattClarity, Paul's focus has been to help make the electricity market more understandable.

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  1. Afternoon/Evening volatility on the way for NSW on Wednesday 8th May 2024 (and more tomorrow?) - WattClarity

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