Hot and sticky weather in QLD drives demand higher and provides an opportunity for spot price volatility
High temperatures and humidity on Monday 6th January deliver more price volatility, and high demand in Queensland.
High temperatures passing through NSW provided the opportunity for the Colongra gas-fired power station to shake off the cobwebs and have a run for the day.
A snapshot from NEM-Watch capturing the first volatility seen this summer
Some initial analysis looking into the question of whether the increased penetration of solar PV is increasing the variability of scheduled demand to the point that generators can exert more pressure on spot prices.
A quick look at some more volatility experienced in the Queensland region on Wednesday 23rd October
The dispatch price in Queensland spiked to $1,500/MWh at 18:25 and again at 22:40 yesterday evening – triggering jitters in some who fear a return to the volatility of summer 2013.
An updated animation of 20th December 2012 focused on the Queensland region – a volatile day for that region.
Here’s another animated case study of one more interesting time that occurred through summer 2013 in Queensland – on this occasion the evening of Saturday 12th January 2013.
An animation of 90 minutes this morning where the price gyrated wildly in response to a trip at Yallourn, and numerous subsequent reactions by market participants and the AEMO.
Following from a period of elevated prices in South Australia, prices dropped on Thursday. Here’s some reasons why…
Spot Prices in South Australia were elevated over the past 7 days – here are some reasons why.
Following yesterday’s warnings about the potential for a tight supply/demand balance in South Australia this week, it was not really a surprise when the SMS alerts from NEM-Watch began buzzing for the 07:20 dispatch interval this morning (NEM time), highlighting that the dispatch price in SA had jumped to $12,199.20/MWh. This has continued through the morning.
Why are we investing significant time in completing this review of what was remarkable price volatility in QLD over summer? We’re primarily a software company that develops shrink-wrapped products used by about 100 market participants, spectators and commentators.
A view of how NEM-wide demand trended over summer, with respect to our Best Demand Forecaster in the NEM competition.
A starting list of a number of factors that combined to deliver sustained higher wholesale electricity prices in the Queensland region across the weekend of Saturday 12th January and Sunday 13th January 2013.
A snapshot of a day of contrast – with high demand in Queensland (temperature driven) and extraordinarily low demand in the south.
An interesting day in the NEM today, with prices gyrating across a wide spectrum, and across all four mainland regions – on the back of higher demand in Victoria and South Australia due to temperatures there, and supported by transmission issues and other factors.
Three images from NEM-Watch highlighting extremes of pricing in the Queensland region of the National Electricity Market today – illustrating the volatility, and hence the opportunities for Demand Side Response.
An illustration of the high demand and volatility on Tuesday 1st February.