AEMO releases report on Market Suspension during June 2022
On Thursday 18th August 2022 the AEMO has released its report into the Market Suspension during June 2022. Will make for interesting reading …
Headline Events
Some key events in the NEM that carried long-term implications
AEMO released Compensation Update for June 2022 events
A short note flagging AEMO’s publication (dated 15th August 2022) about compensation payments for the June 2022 events.
8th Aug 2022 – EnergyAustralia reported an earnings fall for the first half of calendar 2022
A belated and back-dated article to point to the EnergyAustralia Media Release of 8th August 2022 following the Energy Crisis.
AEMO QED highlights (at least) Eight Factors contributing to extreme price outcomes in Q2 2022
On Friday morning 29th July 2022 the AEMO is releasing its ‘Quarterly Energy Dynamics’ for Q2 2022 – I’ve flipped through an embargoed copy and have highlighted here eight different factors flagged by AEMO that have each contributed to the extreme price outcomes seen through Q2 2022. There are probably others noted as well….
File creation times for P5MIN drop, prior to the end of the Market Suspension
Now that we’re past Market Suspension, we take a look back and see file creation latency improve prior to the end of Market Suspension.
AEMC published update on Compensation Claims under APC
On 4th July the AEMC published their second ‘Notice of Receipt of Claims’ with respect to compensation under the Administered Pricing period in June 2022.
Reviewing price patterns in Q2 2022 … anatomy of an Energy Crisis
After many years in a row, we return (in the midst of the ‘2022 Energy Crisis’) to review the pricing patterns in the NEM and the WEM for Q2 2022.
RERT dispatched in QLD – at 17:00 on Tuesday 5th July 2022
RERT (Reserve Trader) dispatched in QLD.
Significant (~1,300MW) drop in Available Generation in QLD on Tuesday morning 5th July
This morning we also saw a sizeable drop (just over 1,300MW) in Available Generation the QLD region … which appears to have triggered an ‘Actual LOR2’ condition.
RERT may be triggered this evening – Tuesday 5th July 2022?
This morning (Tue 5th july 2022) AEMO announces it may see the need to trigger Reserve Trader this evening.
Two alternate theories of why capacity was withdrawn
Second (linked) article this evening, spelling out the two theories we’re aware of with respect to why some participants might have withdrawn capacity from the NEMDE dispatch/pricing run in June 2022 – leading to the AEMO Suspending the Market.
Quick review of bids – looking back 16 days over APC and Market Suspension
With Market Suspension (just) behind us, in this weekend article we take a look over the past 16 days to see how volumes offered to the market from the two types of plant have varied … and the prices they are offered at. The question is asked … why did those DUIDs withdraw capacity from the NEMDE dispatch and pricing run?
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.
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.