As Dan Lee noted earlier, the run of volatility in the NSW Region this afternoon/evening commenced at 15:40 NEM time.
1) This followed a lengthy dose of volatility this morning; and also
2) Some elevated (though not sky-high) prices during the day.
In this snapshot from NEMwatch at the 18:50 dispatch interval we see that the run of extreme prices is still ongoing … over 3 hours later!
Also highlighted is that the rolling Cumulative Price is up well above 1,300,000/MWh … well on the way to the Cumulative Price Threshold (which is set at $1,490,200 for the 2023-24 financial year). If we reach that level, the NEM Rules provide that the AEMO will step in and cap prices:
1) used to be a $300/MWh price cap
2) but, by virtue of the Alinta Rule Change, was increased to $600/MWh from 1st December 2022.
Reminds me that we’d previously published this live updating trend of Cumulative Price for each region in a format that most readers should be able to access, once they create an account.
Let’s see what happens in …
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