Evening volatility in QLD and NSW (and low IRPM) on Monday evening 11th November 2024

Posted by Paul McArdle Monday, November 11 2024 Topic: 2024-11-11

A short article this evening with a snapshot from the NEMwatch entry-level dashboard the 17:55 dispatch interval:

2024-11-11-at-17-55-NEMwatch-QLD

In this dispatch interval note that:

1)  Spot price in QLD at $4,000/MWh, somewhat elevated in NSW … but quite low in the other three regions

2)  Constraints on both QNI and Directlink forcing both interconnectors to export southwards (despite the price differential and ‘counter-price flows’).

3)  Boosted by the additional demand being supplied by these exports, but also noting low Available Generation in QLD, an IRPM for the QLD-only ‘Economic Island’ formed as a result down at only 9%.

 

Note that the 18:00 dispatch interval shows prices up in both QLD and NSW:

2024-11-11-at-18-00-NEMwatch-QLD

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About the Author

Paul McArdle
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.

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