The “Who’s the Best Demand Forecaster in the NEM?” challenge for winter 2009. Tell us the peak demand for this winter by 9AM Monday 29th June, and win your choice of espresso machine.
For those who weren’t aware, Winter 2009 has seen us offer our “Who’s the Best Demand Forecaster in the NEM” challenge – as a chance for the market to redeem itself, following what happened in summer 2008-09 (when the market surprised us all).
We noted yesterday (Wednesday 10th June) that NEM-wide demand climbed past 32,000MW for the first time this winter.
The following evening saw demand climb to similar levels (a peak of 32,054MW at 18:20 – so 35MW higher than the previous night). However the situation on Thursday night was different in two key ways…
Miscellaneous articles on activity in the NEM during winter 2009.
On Wednesday 10th June 2009, temperatures plunged across the NEM for the first time this winter, providing a long-awaited dump of snow to start the season, and driving electricity demand high.
One of 12 articles on the months past in the NEM – investigating the trends and significant events in the National Electricity Market during November.
One of 12 articles on the months past in the NEM – in which we examine the trends in price and demand across the NEM for the month of October.
The third Earth Hour event has yet again spurred fierce debate. As commentators come to accept the fact that Earth Hour is a largely symbolic occasion, the question is raised – what needs to happen next to provide a real, tangible, long term benefit in terms of greenhouse gas reductions?
In 2008 Earth Hour spread across Australia (and the globe), inciting further participation and debate. In this article we compare reported energy usage statistics with demand data from regions across the NEM, and consider the issues raised by other Earth Hour commentators.
“Earth Hour” was a concept developed by the WWF to promote awareness of the risks of climate change. It first ran just in Sydney in 2007, and generated considerable interest, on both sides of the fence – with both climate…
Since the first event in Sydney, 2007, Earth Hour has been held at the same time on two successive years, with an increasing number of locations around the world participating – and still continues to galvanise commentary by supporters and detractors alike. Following the conclusion of Earth Hour 2009, out of interest we thought we’d have a closer look at what happened in Australia’s National Electricity Market over the period of Earth Hour 2007.
Educational resources on Australia’s National Electricity Market.
A seminar at which you will be able to gain a first-hand account of how the current heatwave in VIC and SA is impacting on the physical market, and what it means for the financial market.
Wednesday 28th January saw demand across the NEM jump to unprecedented levels, setting a new record of 34,843MW at 16:00 NEM time. On Thursday 29th January, we saw the demand increase still further, leading to prices that stayed high for much of the day (to the point where the Cumulative Price Threshold was reached in VIC and SA and price caps were imposed), and a relatively small amount of involuntary load shedding occurring in VIC and SA.
We noted yesterday, in the midst of the excitement, that the previous NEM-wide demand record had been beaten, by virtue of the heatwave assaulting VIC and SA over the day. We spoke too soon, however, as demand continued to climb through the afternoon.
The day is not over yet, but we thought you would be interested in the attached snapshot highlighting the first of the occasions on the day when prices jumped to VOLL in SA and VIC as a result of searing temperatures stopping the tennis, and melting VIC and SA into new demand records for each region.
We watched with interest today as demand crept up in all mainland regions to the point where the NEM-Wide demand rose slightly above 33,000MW for the first time ever, during a summer period.
On 19th January, high prices were sustained in SA for several hours, bringing the Cumulative Price within a whisker of the $150,000 threshold, at which prices would be capped.
Given that the holidays are now over (for most of us) and we’re returning back to “normal” life, we thought it would be a good time to provide a brief overview of what’s happened in terms of NEM-Wide demand, to date.
An overview of the final range of estimates received for the peak demand guessing competition of summer 2008-2009.