Load shedding in South Australia on Wednesday 8 February and successive ‘close shaves’ in NSW and Queensland as the heatwave spread north have exposed serious weaknesses in the national electricity market (NEM).
Market Price Cap
Some quick notes about a price spike to the (newly raised) Market Price Cap in NSW this morning
A record of how a day of see-sawing prices appeared (in real time) in NEM-Watch
Note that the high prices have since been revised, but the low prices (down to -$1000/MWh) remain, at least for now.