Yes, prices do jump this high in the middle of the night, occasionally:
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Friday, February 29 2008
Summer 2007-08 was really a story of two different summers, with very mild temperatures experienced in the north (resulting in low levels of demand) but with sweltering temperatures in the…
Friday, December 23 2016
Unfortunately too busy in serving direct customers, so we can’t run the competition for summer 2016-17. You’ll have to wait another year, unfortunately (but still keep an eye on demand as noted in the article).
Friday, December 8 2006
For several days in early December, temperatures reaching 40 degrees in Queensland and New South Wales cause airconditioning load (and hence total demand) to soar in both regions.
The high demands resulted in very high prices being experienced in both QLD and NSW (and also the SNOWY region). Both VIC and SA were insulated from the high prices because (at least in part) of the fact that transfers over the SNOVIC interconnector were constrained to minimise negative inter-regional surplus
Sunday, February 12 2017
Looking forward to this evening, and what looks set to be a near all-time record for QLD demand (a remarkable outcome for a Sunday)