A detailed look at two specific trading periods in the day (Tuesday 24th July 2018) that saw negative dispatch prices occur at the start of trading periods – hence provided a case study for how existing Semi-Scheduled plant respond (especially in combination with transmission constraints and the Semi-Dispatch Cap).
Reduced export capability over QNI south contributed to the low prices seen last week.
Some quick observations about the patterns of volatility seen this week in Queensland
High temperatures passing through NSW provided the opportunity for the Colongra gas-fired power station to shake off the cobwebs and have a run for the day.
The dispatch price in Queensland spiked to $1,500/MWh at 18:25 and again at 22:40 yesterday evening – triggering jitters in some who fear a return to the volatility of summer 2013.
An updated animation of 20th December 2012 focused on the Queensland region – a volatile day for that region.
Here’s another animated case study of one more interesting time that occurred through summer 2013 in Queensland – on this occasion the evening of Saturday 12th January 2013.
Five thought-provoking questions about what really happened in Queensland over summer 2013 – and the supplementary question about what it all means for the future.
Beginning prior to 7am and progressing through the morning of Wednesday 2nd January 2013, there was significant volatility in the Queensland region of the National Electricity Market – including four spikes at or above $1,000/MWh.
Here’s a walk-through of how it unfolded, with some pointers to some of the contributing factors.
An animation of 90 minutes this morning where the price gyrated wildly in response to a trip at Yallourn, and numerous subsequent reactions by market participants and the AEMO.
A preliminary look at a number of events that happened today, leading to prices spiking to the Market Price Cap in a number of regions, Demand Side Response being very active, and trading desks being very busy.
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A brief look, during the day, of the effect that the Queensland heat wave is having on electricity demand within the state – and further across the NEM. It was a day of marked contrast in demand patterns in the north and the south.
Some quick notes today, on day #2 of the Carbon Tax, prompted by some prices that jumped all around the place (not so much due to carbon, though).
NEM-wide demand is still to crack the 30,000MW barrier (which used to be fairly commonplace several summers ago). This is not providing good news for generators.
A listing of some drivers for higher (and, in some cases, lower) prices in the wholesale spot component of the NEM.
Inspired by the price spike experienced this evening, I have spent a little time to put together the background to winters in the NEM.
This will be useful in understanding the context of any other events that occur this winter, and are analysed on WattClarity.
On the 4th of February at around 11am energy users in NSW appear to have curtailed their load in response to high prices, resulting in a significant drop in demand. Simultaneously, network conditions and generator rebidding caused the NSW pool price to jump back and forth between extreme prices close to VOLL ($10,000/MWh) and the Market Floor Price (-$1,000/MWh).
For only the 5th time in 11 years of NEM history (and the 3rd time for South Australia) four consecutive days of price spikes have forced the Cumulative Price to the Threshold, and AEMO has imposed price caps to prevent retailers from going bust.
Some quick notes about another price spike today in the South Australian region of Australia’s National Electricity Market
Summer 2008-09 is now well behind us, and there are a number of official reviews underway that will report back at some stage. Even so, we’ve been continuing to ponder…