There’s been some discussion in certain circles about what that might do to the Cumulative Price, but it was Alex Leemon here that (to my knowledge) first noted that it went negative on Thursday 29th August 2024.
Here’s a snapshot of the situation this morning in this pre-prepared query in the ‘Trends Engine’ within ez2view:
A seen in this snapshot from NEMwatch at the 09:30 dispatch interval on Friday 30th August 2024 noting that the Cumulative Price in South Australia is down at (only!) $185/MWh … so is soon to join VIC (now at –$23,860/MWh) down in negative territory:
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.
Prices in SA have spiked to close to the market cap and remained elevated, following the invocation of the ‘I-VS_250’ constraint set due to extreme weather conditions.
All four mainland regions of the NEM are now under Administered Pricing … with SA and then VIC joining NSW and QLD in quick succession Monday evening 13th June 2022.
Following some tweets from the esaa mentioning how the demand in Victoria on Tuesday 12th March was the highest seen for four years, we had a look back through our records on the day.
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