Looking back at FCAS on 1 August 2023
Don’t forget about FCAS when the energy market starts to steal the spotlight.
high FCAS prices
FCAS driving the island?
Guest author, Allan O’Neil, contributes his first article with respect to the islanding event in South Australia of November 2022 (in this article taking a look at FCAS market outcomes in South Australia).
What was the total cost of ‘keeping the lights on’ across the NEM in June?
Dan Lee provides some exploratory calculations in order to estimate the total cost of maintaining electricity supply throughout a very turbulent June.
Market volatility on Wednesday 10th August 2022 (incl FCAS prices going haywire) – Failure of Market Systems?
A short initial article to flag market volatility on Wednesday 10th August 2022 which sees ENERGY prices elevated (particularly TAS) and also Contingency FCAS prices at MPC
Morning dose of volatility in QLD – Tuesday 7th June 2022
A quick look at some of the factors of this morning’s price volatility in the QLD region.
A quick look at the (tight) QLD+NSW supply stack, on Tuesday evening 3rd May 2022
A first after-the-fact review of the price volatility seen in QLD and NSW on Tuesday evening, 2nd May 2022. What were some of the causal factors?
A Second Serving of the Q2 Elephant
For a second portion of Q2 “elephant eating”, I’ll look in some detail at the dynamics of an early instance of spot price volatility in Queensland, because many drivers turn out to be similar across other volatile intervals in the…
Administered Pricing reached for Raise 6 second (Contingency) FCAS in Queensland
High Contingency FCAS prices (Raise 6 second) in response to what’s happened at Callide Power Station drove the Cumulative Price to (6 times) the Cumulative Price Threshold. Administered Pricing began Saturday evening for QLD.
Early blast of summer drives NSW and QLD prices through the roof
It’s not officially summer, yet – but it sure seems like it is across QLD and NSW. High temperatures drive some prices spiking up to the Market Price Cap in both ENERGY and some FCAS commodities as well…
Surviving on the island – again
Another islanding event separated the SA region from the rest of the NEM yesterday (Monday, 2nd of March). Allan O’Neil investigates what happened before the event and possible causes.
FCAS Matters – More than ever
Jonathon Dyson of Greenview Strategic Consulting uses the Generator Statistical Digest to highlight FCAS revenue results, contingency recovery and regulation costs for 2019, and help explain why it is critical for us all to understand FCAS.
Don’t Forget About FCAS!
Guest author, Allan O’Neil, takes a look at what’s happened in the (islanded) market for FCAS services in South Australia over the past two weeks with Heywood out of service. He notes:
“generators in SA as a group would have paid out roughly twice in contingency raise FCAS costs what they earned from selling energy”
Monday 9th July sees yo-yo prices in South Australia
Some brief analysis of today’s price volatility seen in the South Australian region of the NEM
Energy prices below zero in South Australia, but Raise Regulation FCAS prices through the roof
Low energy prices in South Australia combined with high prices for Raise Regulation
High Regulation FCAS Prices on Tuesday 18th April in South Australia
Quick review of a spike in FCAS Prices in South Australia on Tuesday 18th April 2017 – leading to Administered Pricing for Raise Regulation Services.
Another day where LOR2 notice issued for SA – what does it mean?
AEMO issued a Market Notice this morning for an LOR2 “Low Reserve Condition” in South Australia. Here’s my sense of some of what’s happening.
Analysis of the FCAS market in Victoria over the 23rd July, 2008
On the 23rd of July, 2008 one of the HWTS – LYPS 500kV Line was down for maintenance when a second one tripped, leaving only one line remaining. This caused NEMMCO to declare the failure of that remaining line the greatest single contingency in the NEM, causing them to buy large amounts of FCAS from generators.
VOLL Pricing on 23rd July 2008
It appears that we spoke too soon when we mentioned on the 22nd July that winter 2008 had been relatively uneventful.
Just over 24 hours from making these comments, we saw prices jump sky-high in the mainland regions, and go the other way (to the negative price cap) in Tasmania.