Another LOR2 (and RERT Negotiations), out of the blue…
A quick article with the unfolding situation this afternoon in Victoria – tight supply/demand balance, price spike to the Market Price Cap, and RERT negotiations ….
Market Price Cap
Five fixes for the NEM
Load shedding in South Australia on Wednesday 8 February and successive ‘close shaves’ in NSW and Queensland as the heatwave spread north have exposed serious weaknesses in the national electricity market (NEM).
Price hits the new Market Price Cap in NSW this morning
Some quick notes about a price spike to the (newly raised) Market Price Cap in NSW this morning
Prices see-saw over the full $13,250/MWh price range – but it’s all revised!
A record of how a day of see-sawing prices appeared (in real time) in NEM-Watch
Note that the high prices have since been revised, but the low prices (down to -$1000/MWh) remain, at least for now.