Spot prices spiked across mainland regions this evening – firstly at 17:55 (above $1,000/MWh). and then at 18:00 (up towards $15,000/MWh). Here’s a first look.
Reminded by today’s spikes, here’s a quick look at a similar price spike that occurred yesterday (14:35 on Friday 9th April 2021 in the QLD region).
Monday 22nd February 2021 saw QLD Scheduled Demand rise higher than it has on any other day so far this summer … 576MW below the all-time maximum.
A longer-term trend of the incidence of negative prices across each region of the NEM … and, most interestingly, the pattern by time of day.
Several conversations this week prompted me to update the long-term view of how spot prices have trended over time (in particular because average prices in 2020 were quite different than recent years).
It was forecast it would be a hot day in the southern part of the NEM and it did not disappoint. The hot weather was one of the factors that contributed to price spikes … in Regulation FCAS, and then in QLD and later in South Australia.
Earlier this afternoon we were alerted to a price spike in NSW and QLD that was seemingly caused by a unit trip at one of the larger generators in NSW.
Third day in a row, and at exactly the same time as yesterday (Mon 17th Nov) the dispatch price in QLD spiked through the roof. Here’s a quick first look…
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…
Three main factors contributed to the spot prices in Queensland dropping underwater today for a number of hours – with some factors suggesting this might be the pattern for the coming week…