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
Belgium-based guest author Gilles Chaspierre looks at two major occasions where the NEM was suspended. In 2016, when physics outran the market; and in 2022 when the market outran the physics. He reads the pair as one lesson about what spot prices cannot see.
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.
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 for one particular region (19:05 on Tuesday 11th February 2025 in...
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"
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 referencing the document.
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 outcomes in the NEM
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 the AEMO's "Price Setter" file.
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 Report Card 2018) we've pulled some preliminary analysis together here of...
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