This week saw a new record demand in NSW of 13,292MW on Thursday 2nd February. Correspondingly, average prices were above $100/MWh in both NSW and Queensland - but the price spikes did not transfer...
Demand in Victoria peaked again, bringing with it high prices in Victoria and (to a lesser extent) South Australia. Indeed, the demand experienced in Victoria (on Friday 24th February) exceeded the previous high level...
Based on forecasts NEMMCO had been providing through their PASA process, we expected that it might prove that this week would deliver huge demand levels, and high prices. Not to disappoint, the market did...
Summer 2005-06 saw Australians sweltering in temperatures 40 degrees and above. In the National Electricity Market, this led to new peaks in demand and (given the tight supply/demand balance) delivered high (and volatile) spot...
The week started with commotion in Queensland, when the VOLL price ceiling was reached. Further analysis revealed that this was due to transmission system events and the trip of several generation units within Queensland.