Eighteen month trend of daily average spot prices highlights extreme volatility in Q2 2022
The unsuspension of the market is a useful time to reflect on ‘how we got here’ … starting with this 18-month trend of daily average spot prices.
2022 Energy Crisis
A collection of the articles about the confluence of events (both domestic and international) that contributed to the full-blown Energy Crisis in 2022 that’s been described as ‘worst in 50 years’
AEMO estimates RERT payments on Tue 14th, Wed 15th and Fri 17th June 2022
A brief synopsis of the costs AEMO estimates it paid for Reserve Trader in the recent period around Market Suspension.
Market Suspension to end at 14:00 on Friday 24th June 2022
First article for Friday 24th june 2022 with the market still in suspension.
AEMO continue to watch for forecast LOR3 … e.g. MN99072 in preliminary forecast for Thu 30th June in SA
With Market Suspension possibly being lifted tomorrow morning, the flagging of forecast LOR3 in *very preliminary* ST PASA run for Thursday 30th June was of interest.
Administered Pricing ended at 04:00 on Thursday 23rd June 2022 (and an FCAS price glitch)
A short note about the end of the Administered Pricing Period (for now?) from 04:05 on Thursday 23rd June 2022.
(Somewhat artificially) low NEM-wide IRPM on Wednesday evening 22nd June … looking forward to possible easing of Suspension on Friday morning
A quick look at the NEM on Wednesday evening, with thoughts to the near future.
AEMO MN98805 continues Market Suspension (possibly only till Friday 04:05), but with different prices on a path out
This morning AEMO published Market Notice 98805 confirming continuation of Market Suspension from 04:05 Thursday 23rd June until further notice.
Pricing and dispatch during market suspension
Marcelle explores how settlement prices are set and how dispatch is operating during the current market suspension.
Climbing out of Market Suspension
A short article to follow on from an AEMO announcement at 16:30 today about a possible pathway out of Market Suspension
Increased visibility of LOR3 forecasts
An update on our thinking about LOR forecasts, under these ‘far from normal’ current market conditions.
ACCC’s ‘Inquiry into the National Electricity Market’ (from 23rd May) published (+ an Addendum) Monday 20th June 2022
A short article to note the release of the ACCC’s 7th issue of the ‘Inquiry into the NEM’ … along with an Addendum at a very topical time.
File creation times at AEMO for DISPATCHIS and P5MIN increase 50%, coincident [CAVEAT] with Administered Pricing and Market Suspension
In parallel to the ‘Energy Crisis 2022’ (and perhaps related to it, in some ways) we see a step change decline in the performance of the timeliness of file creation for P5MIN at the AEMO in recent days…
TransGrid 330kV substation near Tallawarra Power Station on fire [updated ~20:30]
A short note this evening about a substation fire near Tallawarra Power Station.
RERT dispatched through Friday night in NSW
On Friday evening AEMO dispatched Reserve Trader for a long period of time.
Wafer thin margin Friday evening, NEM-wide [caveat = based on generation bid available for NEMDE pricing/dispatch]
A quick snapshot for NEM-wide Instantaneous Reserve Plant Margin down at 3% at 23:45 on Friday evening 17th June 2022.
Stepping to suspension
With all regions of the NEM having been suspended by AEMO on Wednesday 15th June 2022, guest author Allan O’Neil takes an initial look at what’s visible in terms of operations in the NEM.
AEMC notice ‘Eligible participants have [until Wednesday 22nd June] to notify the AEMC of their intent to claim compensation’
An updated today from the AEMC about the compensation claims process under APC is worth sharing with Participants who read WattClarity.
Observation 5/22 from GenInsights21 – the rise of ‘Just in Time’
Broader discussions about the ‘2022 Energy Crisis’, and the specific discussion this afternoon for the EUAA Electricity Committee prompted us to publish (in full) Key Observation #5 of 22 of our GenInsights21 report here today.
Trended bidding from BESS discharge (NEM-wide) … highlighting APC and Market Suspension
Someone asked me a question on social media this morning about batteries ‘withdrawing capacity’ … here’s a view of what’s happened using ez2view (and as presented to EUAA).
{Critical Alert} AEMO seeking market response to threat to system security for gas day 16th June
A short note from 16:50 today about the gas market, from the AEMO.