Our Managing Director spoke at the “Australian Energy & Utility Summit 08” in Sydney on Tuesday 22nd July 2008, touching on issues including the extremes of price volatility that were experienced over winter 2007.
Articles by Paul McArdle
Following from an alert to the situation provided by NEM-Watch, Duncan Hughes published an article “Power Price Jump in Eye of the Storm” that mentioned the extremely low levels of NEM-Wide Instantaneous Reserve Plant Margin (IRPM) that had occurred for a 60-minute period over both days.
For the EUAA’s Members Meeting (held in Brisbane on 24th April 2008), our Managing Director was invited to provide of a précis of the presentation he previously provided at the “QLD Energy” conference (on 12th March 2008).
In particular, comments made by Paul with respect to the proposed upgrade to QNI – which was topical at the time of the conference, given that Powerlink and TransGrid had released their analysis of several upgrade options in the same week as the conference.
As a result of the presentation, Duncan Hughes wrote an article about the potential cost to energy users of the upgrade, and published this in the Australian Financial Review on 13th March 2008.
Given the magnitude of the numbers reported, this issue has proved to be of significant issue to large energy users – hence the invitation to present at the Member’s Meeting.
The heatwave, and its effects on the NEM, certainly proved newsworthy. In this article, we provide a listing of the news coverage provided to the heatwave.
Following from the blackout, several government bodies, and industry organisations completed reviews of the events leading up to the blackout. For completeness, these reports (at least, those we are aware of) have been listed in this article.
In March 2008 (after summer had officially ended) South Australians were forced to endure a record 15 straight days of temperatures climbing above 35ºC. Victorians also experienced extreme heat for…
Over the period of summer 2006-07, we prepared a number of articles about other occasions of note in the NEM (in addition to the blackout of 16th January 2007, which…
Events of Winter 2002 in the NEM.
Our Managing Director was asked to speak at the “Queensland Energy” conference in Brisbane on Wednesday 12th March – specifically addressing the topic of price volatility in the NEM.
To provide the basis of discussion during the conference, we focused our analysis solely on Queensland region (to make the topic more manageable).
In our review of volatility in the Queensland region, we focused specifically on 3 core attributes of the market: Queensland dispatch prices; NEM-Wide Instantaneous Reserve Plant Margin; and the concept of “Economic Islands”.
Over the period of summer 2005-06, we prepared a number of articles about other occasions of note in the NEM. These articles are linked here.
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…
In Queensland we experienced one of the mildest summers I can remember. As a result of this, demand levels were subdued for most of summer. However, for a couple of days in late February, summer finally arrived, and struck with a vengeance.
Here’s some articles about the impact of the drought on the NEM – culminating in a stepped change in prices, and changes to dispatch patterns, etc…
Following from the interest generated in the article published in the AFR, we completed some analysis of the trend in IRPM over the history of the NEM up until June 2007.
The results of this analysis revealed that at no time before 2007 had the IRPM even dropped below 12% and that, except for the 2-day period (19th and 20th June) the IRPM had not dropped below 10%.
For two remarkable winter evenings in 2007 (19th and 20th June specifically) NEM-Wide Instantaneous Reserve Plant Margin (IRPM) plunged to the lowest levels ever seen in the NEM (a mere…
Our second review was prepared in conjunction with the release of NEM-Watch version 7 (including the new NEM-Watch portal at www.NEM-Watch.info) in March 2007.
We compiled a week-by-week summary of interesting events that occurred in the NEM – from 19th November 2006 through until 16th January 2007 (the day of the blackout).
Our first review, linked here, was prepared the night of the blackout itself, and provides a chronological history of events, as seen through the NEM-Watch™ application.
Note about the NOUS Group report on the blackout in Victoria of 16th January 2007
Victoria experiences a large blackout in the afternoon and evening of 16 January 2007, when bush fires cause three main transmission lines to trip. This created chaos throughout much of…