Impact of the GFC on the NEM?
Out of curiosity, we have performed some analysis of the extent to which the GFC has had an impact on the level of consumption of electricity across the NEM.
What impact has the GFC (Global Financial Crisis) had on the NEM?
Given that the 2008-09 financial year has just ended, I thought it would be an appropriate time to look into what impact the GFC has had on electricity demand in the NEM.
A brief look at peak NEM-Wide Demand over recent winters
This weekend, we have prepared this analysis of the entries we received for our “Peak Demand Forecaster” competition for winter 2009.
In conjunction with this analysis, we thought it would be of interest to also incorporate this chart (generated from a BETA version of the NEM-Review v6 software package) to highlight how the peak NEM-Wide demand unfolded over the previous winters…
Summary of entries received for the “Best Demand Forecaster” competition for Winter 2009
A couple of weeks ago, we opened for entries in our “Best Demand Forecaster” competition – run for the first time during winter.
Entries closed on Monday 29th June (2 weeks ago now) but we have only just found the time to do some analysis of the entries we received, which we have summarised in the following graph…
Price cap lifted, and Tassie price spikes again
We reported previously that a price cap was invoked in Tasmania on Tuesday 16th June because the Cumulative Price Threshold was reached. In official terminology, this was an Administered Price Period (APP). At 04:00AM this morning, NEMMCO released a market notice advising the market that the APP had been lifted…
Tassie hits the Cumulative Price Threshold
For only the third occasion in the 10 1/2 years that the NEM has been operational, the Cumulative Price Threshold (CPT) has been reached. Yesterday evening, the CPT was reached in the Tasmanian region.
Win an Espresso Coffee Machine as the Best Demand Forecaster for Winter 2009
The “Who’s the Best Demand Forecaster in the NEM?” challenge for winter 2009. Tell us the peak demand for this winter by 9AM Monday 29th June, and win your choice of espresso machine.
A review of recent winters in the NEM
For those who weren’t aware, Winter 2009 has seen us offer our “Who’s the Best Demand Forecaster in the NEM” challenge – as a chance for the market to redeem itself, following what happened in summer 2008-09 (when the market surprised us all).
Prices Surge in QLD and NSW as Demand Climbs
We noted yesterday (Wednesday 10th June) that NEM-wide demand climbed past 32,000MW for the first time this winter.
The following evening saw demand climb to similar levels (a peak of 32,054MW at 18:20 – so 35MW higher than the previous night). However the situation on Thursday night was different in two key ways…
Winter 2009
Miscellaneous articles on activity in the NEM during winter 2009.
First Spike in Demand this Winter As Temperatures Plunge
On Wednesday 10th June 2009, temperatures plunged across the NEM for the first time this winter, providing a long-awaited dump of snow to start the season, and driving electricity demand high.
November in the NEM (a review of 10 years of history)
One of 12 articles on the months past in the NEM – investigating the trends and significant events in the National Electricity Market during November.
October in the NEM (a review of 10 years of history)
One of 12 articles on the months past in the NEM – in which we examine the trends in price and demand across the NEM for the month of October.
Earth Hour 2009 – Impact on Australia’s National Electricity Market
The third Earth Hour event has yet again spurred fierce debate. As commentators come to accept the fact that Earth Hour is a largely symbolic occasion, the question is raised – what needs to happen next to provide a real, tangible, long term benefit in terms of greenhouse gas reductions?
Earth Hour 2008 – Impact on Australia’s National Electricity Market
In 2008 Earth Hour spread across Australia (and the globe), inciting further participation and debate. In this article we compare reported energy usage statistics with demand data from regions across the NEM, and consider the issues raised by other Earth Hour commentators.
Earth Hour
“Earth Hour” was a concept developed by the WWF to promote awareness of the risks of climate change. It first ran just in Sydney in 2007, and generated considerable interest,…
Earth Hour 2007 – Impact on Australia’s National Electricity Market
Since the first event in Sydney, 2007, Earth Hour has been held at the same time on two successive years, with an increasing number of locations around the world participating – and still continues to galvanise commentary by supporters and detractors alike. Following the conclusion of Earth Hour 2009, out of interest we thought we’d have a closer look at what happened in Australia’s National Electricity Market over the period of Earth Hour 2007.
Training about the NEM
Educational resources on Australia’s National Electricity Market.
Australian Power & Carbon Day, London (UK) Wenesday 4th February 2009
A seminar at which you will be able to gain a first-hand account of how the current heatwave in VIC and SA is impacting on the physical market, and what it means for the financial market.
Massive Demand, Huge Prices, Load Shedding and the Cumulative Price Threshold (and lessons learnt?)
Wednesday 28th January saw demand across the NEM jump to unprecedented levels, setting a new record of 34,843MW at 16:00 NEM time. On Thursday 29th January, we saw the demand increase still further, leading to prices that stayed high for much of the day (to the point where the Cumulative Price Threshold was reached in VIC and SA and price caps were imposed), and a relatively small amount of involuntary load shedding occurring in VIC and SA.