We noted as it happened (e.g. hard to ignore a steady run of SMS alerts) , but only belatedly publish this record of evening volatility on Thursday evening 12th December 2024 – starting with this snapshot of tabulated Spot Price and ‘Market Demand’ from inside of NEMwatch:
We see that:
1) First price spike above $1,000/MWh was at 17:50 (NEM time) whilst last one was 19:30
2) During this period, the levels of ‘Market Demand’ were relatively modest.
Here’s the 18:40 dispatch interval (NEM time) captured in NEMwatch to show more of what was happening at the time:
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.
Following a week where several days saw price volatility in NSW (with this being so extreme that Reserve Trader was triggered on Thursday 17th December) we’ve taken a look at the comparative performance of coal units across the NEM (and particularly in NSW) compared to prior years.
Prompted by sequence of alerts about of lack of reserve market notices I delved in to the data to understand where and when using the LOR outlook for the NEM’s regions in ez2view. The alerts were configured on market notices…
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