Starting from the 17:55 dispatch interval this evening, we have seen a rare occurrence of prices spiking >$1,000/MWh in all five NEM regions simultaneously. Outside of the 2022 energy crisis, this has seldom occured in (at least) the recent history of the NEM.
As time permits, we will endeavour to take a closer look into the market conditions that led to these price outcomes.
Dan Lee first started at Global-Roam in June 2013. He has departed (and returned) for a couple of stints overseas in that time, but rejoined our team permanently in late 2019.
More recently, Dan's focus has been on growing his understanding of the market and developing his analytical capabilities. He is currently enrolled in the Master of Sustainable Energy program at the University of Queensland.
One of 12 articles on the months past in the NEM. June has brought us several cases of “economic witholding of capacity” – particularly in 2002, and in 2007 the NEM had a very interesting week in which the IRPM plunged to its lowest level ever.
AEMO’s latest update at 10:00 (NEM time) on Wednesday 20th November 2024 in MN120702 shows the forecast severity of LOR3 (i.e. load shedding) in NSW on Tuesday 26th Nov 2024 has dropped (but not disappeared).
Blocking high causing a significant downturn in wind production.
Callide C3 is apparently offline as well for another month.
Businesses in general are at a 25yr high for bankruptcy/insolvency. Nothing to see here folks.