Out of curiosity, and driven by questions received from several people, I’ve invested a bit of time today to delve further into the record low level of Scheduled Demand seen in the Victorian region (and perhaps also across the whole of the NEM) on Saturday 29th August 2020.
A preliminary look at a number of events that happened today, leading to prices spiking to the Market Price Cap in a number of regions, Demand Side Response being very active, and trading desks being very busy.
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On the 4th of February at around 11am energy users in NSW appear to have curtailed their load in response to high prices, resulting in a significant drop in demand. Simultaneously, network conditions and generator rebidding caused the NSW pool price to jump back and forth between extreme prices close to VOLL ($10,000/MWh) and the Market Floor Price (-$1,000/MWh).
Some quick notes about another price spike today in the South Australian region of Australia’s National Electricity Market
A look-back at 11 years of NEM history to reveal the nature and measure of benefits large industrial energy users can gain from curtailability in the NEM
It was with interest that we stumbled on this article in the Herald newspaper talking about what happened on the 31st October in NSW