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.
Widespread and heavy rainfall occurred across southeast Queensland during the week ending Sunday 27th February, 2022. The deluge produced some of the highest rainfall totals on record and extensive flooding. Did electricity demand drop in association with network outages?
Market Notice #122113 states that an actual LOR1 condition has eventuated in NSW, with prices and demand still fluctuating in the region at the time of writing.
Today (Wed 15th May 2024) Bruce Mountain writes an opinion piece in the Australian about the recent run of Administered Pricing in NSW, and what it means for the looming closure of Eraring and the energy transition.
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