What happens, when Supply ≠ Demand?
For short term reasons (related to the Nelson Review and the NEMDev conference) and longer-term reasons, we thought it was useful to post this as a stand-alone article now.
How Dispatch Works
Here’s a collation of articles pertaining to the coupled questions about ‘How Dispatch works (and how Prices are Set)’ in Australia’s National Electricity Market
NEMDE nightmares – parallel pathways and clashing constraints
Prompted by a question by a client in a training session for a new ez2view user, guest author Allan O'Neil has written 2,940 words to explain the price outcome in one particular dispatch interval...
Opening the black box: A beginner’s guide to wholesale market modelling (Part 3)
Oliver Nunn and his team at Endgame Economics have written this introductory three-part guide to market modelling in the NEM. This is Part 3: "Defense against the dark arts"
AEMO publishes update to ‘Guide to Mis-Pricing Information’ in conjunction with IESS
On 1st August 2024 the AEMO approved for distribution version 5 of the document 'Guide to Mis-Pricing Information' with reference to the IESS go-live on 3rd June 2024. Hence the date of this article...
How dispatch works … it’s much more than just a bid stack
New guest author, Ryan Esplin progressively builds a more precise model of the NEMDE dispatch process to illustrate why the stylised 'Merit Order' bid stack model is increasingly not enough to explain dispatch and...
Price Setting Concepts – an Explainer
Guest author, Allan O'Neil, contributes to our series of articles explaining how prices are set the the NEM (as part of how dispatch works). In this article, Allan explains some of the details in...
A (preliminary) Intermediate Guide to How Prices are Set in the NEM
In the process of assembling a long-range data set on how much every single generator has contributed to the price of Energy in each Region of the NEM (which we're doing for our Generator...
Beginner’s Guide to how dispatch works in the NEM, and hence how prices are set
Walking through 5 (much simplified) "Dispatch Intervals" to illustrate some starting principles of marginal price based dispatch arrangements, such as used in the National Electricity Market