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
Headline Events
Some key events in the NEM that carried long-term implications
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.
Three coal units have returned … with another one the way
Following Tuesday’s article about 7 coal units due for return to service soon, 3 are back and 1 more on the way.
ASX issues response to AEMO announcement of Market Suspension
Following yesterday’s announcement of Market Suspension by the AEMO, ASX issued this response … but I’ve only had time to copy this in now: ASX Electricity Futures and Options – Response to AEMO announcement Notice reference number: 0649.22.06 Date published: 15/06/22 Effective…
Preparations for Thursday’s discussions with EUAA Electricity Committee … about GenInsights21 and the 2022 Energy Crisis
A short note about the presentation to EUAA Electricity Committee on Thu 16th June 2022 about GenInsights21 … and the ‘2022 Energy Crisis’
ez2view ‘NEM Prices’ widget showing market prices under Market Suspension
A snapshot from the ez2view ‘NEM Prices’ widget recording a (thankfully, and hopefully short-lived) event.
Two articles on LinkedIn that might be useful reading contrasting the two different Compensation Processes (i.e. AEMO Directions and AEMC APC)
Despite it being overtaken by today’s Market Suspension, with its own compensation arrangements – still might be useful for readers to be aware of these two sources of discussion about the two different sources of compensation that seemed to be at play for a few days under Administered Price Caps (APC) following Cumulative Price Threshold (CPT) being reached.
RERT dispatched in QLD – at 18:00 on Wednesday 15th June 2022
RERT (Reserve Trader) dispatched in QLD.
RERT dispatched in NSW – at 17:30 on Wednesday 15th June 2022
RERT (Reserve Trader) dispatched in NSW.
AEMO publishes ‘Declaration of Market Suspension’
AEMO has determined that it is necessary to suspend the spot market in all regions under NER clause 3.14.3(s)3) because it has become impossible to operate the spot market in accordance with the provisions of the Rules.