NEM-wide IRPM below 15%, on Thursday evening 5th December 2024

We wrote earlier today about ‘Hot weather (and low wind) bring price action to South Australia on Thursday afternoon 5th December 2024’.

The sun’s set now (at least in Brisbane) and the SMS alerts have begun to trigger because the NEM-wide IRPM has dropped below the 15% alert trigger level, as noted here:

We see in the snapshot above that this is the first time this alert has triggered since the winter evening of 5th August 2024.  At the 18:50 dispatch interval (NEM time) here’s a NEMwatch snapshot showing the broader state of the market:

Note that ‘Market Demand’ in South Australia is up in the orange zone (at 2,655MW) relative to all-time maximum (3,402MW set in January 2011) – due to the higher temperatures and the waning benefit of rooftop PV injections.

Some chance we’ll see some spicier prices over the next ~ hour (in any region), if ‘Market Demand’ continues to climb.

… but that’s all for now.