Hot weather (and low wind) bring price action to South Australia on Thursday afternoon 5th December 2024

Posted by Paul McArdle Thursday, December 5 2024 Topic: 2024-12-05

Worth a brief article with this NEMwatch snapshot at 14:15 (NEM time) with the spot price in South Australia at $12,500.44/MWh:

2024-12-05-at-14-15-NEMwatch-SA-12500bucks

 

Amongst other things, we see:

1)  Level of ‘Market Demand’ in South Australia escalating quickly

2)  That’s happening despite a generous share of underlying demand being met by rooftop PV

3)  We see there’s not much wind in the energy mix

4)  Meaning the balance of supply coming from gas

5)  Also notable is the constrained import capability from VIC>

 

That’s all for now…

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

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