A short article this evening with this snapshot from NEMwatch at 18:25 showing the spot price in SA just above $12,500/MWh:
At this point we see:
1) No price excursions above $1,000/MWh in regions other than in South Australia;
2) Three excursions for South Australia at or near that level:
(a) At 17:00 it reached $1,000/MWh
(b) At 18;00 just below; and
(c) At 18:25 as shown above.
3) The Cumulative Price in South Australia has actually dropped a bit, compared to what we saw yesterday evening (as the effect of volatility ~7 days ago winds off).
Nothing else, at this point…
We still appear to be in conditions with blocking high pressure systems that are resulting in lower than average wind conditions that are typical for this time of year combined with low rain fall in Tasmania. At least we are starting to see some short periods of very good wind conditions, but regions like SA lack the storage capacity to fully take advantage of these short periods. Lack of transmission capacity is further compounding this issue.