Exactly one year on from 22nd January 2024 (a day where QLD blew its top and experienced a massive increase in ‘Market Demand’ … set at 11,036MW by that measure), we’ve gone even better this afternoon/evening.
More will come later in subsequent articles catalogued under 22nd January 2025, but here’s a snapshot from NEMwatch at 17:55 showing some of what’s going on:
Note in particular:
1) High level of ‘Market Demand’:
(a) We capture the demand point at 17:55 being 22,229MW
(b) But that’s not quite as high as the (higher-still) level of 11,159MW in the 17:45 dispatch interval … so 123MW higher than what was the ‘highest ever’ point from a year ago.
2) In this dispatch interval, the QLD spot price is up at $4,164.91/MWh and it has been bouncing up and down since 16:50 (i.e. first spike > $1,000/MWh)
3) Tight supply-demand balance in the QLD ‘Economic Island’ formed via the constrained flow on the QNI and Directlink interconnectors:
(a) We see this in NEMwatch via the 9% level (only!) for IRPM for the QLD ‘Economic Island’ :
i. Being the surplus of only 983MW
ii. The difference between 11,657MW (aggregate available generation) and 10,674MW (i.e. QLD demand supplied by QLD generation … i.e. lower than the ‘Market Demand’ by the net imports on the interconnectors)
(b) And also via the AEMO Market Notice for ‘Actual LOR1’ in the QLD region:
‘——————————————————————-
MARKET NOTICE
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From : AEMO
To : NEMITWEB1
Creation Date : 22/01/2025 17:47:39
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Notice ID : 123589
Notice Type ID : RESERVE NOTICE
Notice Type Description : LRC/LOR1/LOR2/LOR3
Issue Date : 22/01/2025
External Reference : Actual Lack Of Reserve Level 1 (LOR1) in the QLD region – 22/01/2025
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Reason :
AEMO ELECTRICITY MARKET NOTICE
Actual Lack Of Reserve Level 1 (LOR1) in the QLD region – 22/01/2025
An Actual LOR1 condition has been declared under clause 4.8.4(b) of the National Electricity Rules for the QLD region from 1730 hrs.
The Actual LOR1 condition is forecast to exist until 1930 hrs
The capacity reserve requirement is 854 MW
The minimum capacity reserve available is 543 MW
Manager NEM Real Time Operations
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END OF REPORT
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