We just witnessed another eventful Q2, with at least four drivers contributing to significant price volatility. This is our annual review of Q2 prices, where we compare these outcomes against the long-term trend.
A brief chart to capture VIC demand climbing above expectations.
A tabular summary of how ‘declining demand’ has been an accelerating theme in most regions of the NEM (and NEM-wide) through 2023.
Third article today, focusing on an apparent anomaly between AEMO’s P30 and P5 predispatch forecasts for Victorian demand today (Sun 31st Dec 2023).
A second article today on this challenging day for the Victorian grid, looking at which supply sources are running.
First article today, recording a new ‘lowest ever’ point for demand in Victoria (Sun 31st Dec 2023), and possible intervention from AEMO has it looks to drop further, leading to possible grid instability.
An email alert notified me of a sudden drop in wind and solar generation (primarily in VIC and SA) at around 3pm this afternoon.
I’m greeted this morning with a view of how prices have remained stubbornly elevated all the way through 10 hours overnight… in all regions!
It was volatile this morning well past that’s become ‘normal’ and the volatility has returned (as I expected it would) this evening. Here’s the snapshot of the 17:20 dispatch interval from one of our NEMwatch v10 dashboards: As highlighted: 1) …
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.
Today (Fri 31 January 2020) saw NEM-wide demand reach levels never seen before (excepting 29th January 2009). This was just the start of the white knuckle ride.