Wholesale electricity price leaps in heatwave

Friday, 30 December: Top prices of
$2800.09-$4187.69/MWh in multiple spike intervals in NSW, Vic, SA, Qld
and Snowy as heatwave hits Adelaide and Melbourne

Top prices of between $2800.09-$4187.69/MWh were recorded in multiple
spike intervals in NSW, Victoria, South Australia, Queensland and Snowy
on Friday, 30 December.

SA has 23 spike intervals: South Australia had spikes in 23 of
the 48 30-minute trading intervals. NSW, Victoria and Snowy had spikes
in 11 trading intervals and Queensland in seven.

Heatwave causes demand surge: The spikes occurred on a day when
system-wide maximum demand surged by 1650MW (5.9 per cent) to 29,780MW,
largely due to big increases resulting from the heatwave in South
Australia and Victoria. Adelaide had a top temperature of 41 degrees
and Melbourne 39 degrees.

Another direction to Directlink: There were also continuing
problems with NSW supply and NEMMCO directed the Queensland-NSW
Directlink interconnector to be available for dispatch, as well as
offloading the 132kV feeder 9W2 to maintain power system security.
NEMMCO also forecast a lack of reserve level one (LOR1) for three hours
30 minutes in South Australia and for one hour in NSW.

How prices moved in the regions: The following table shows how prices moved during the spike intervals in the five regions:

Trading interval NSW Vic SA Qld Snowy
1000EST $135.79/MWh
1030EST $125.16/MWh
1100EST $274.00/MWh
1130EST $299.00/MWh
1200EST $276.83/MWh
1230EST $164.05/Mwh $155.49/MWh $315.09/MWh $149.49/MWh
1300EST $302.83/MWh $280.97/MWh $397.88/MWh $273.73/MWh
1330EST $442.77/MWh $399.97/MWh $513.65/MWh $114.92/MWh $385.76/MWh
1400EST $822.18/MWh $749.77/MWh $932.35/MWh $715.35/MWh
1430EST $1658.22/MWh $1475.92/MWh $1764.45/MWh $153.47/MWh $1422.17/MWh
1500EST $3936.04/MWh $3448.66/Mwh $4187.19/MWh $299.64/MW $3351.57/MWh
1530EST $3216.99/MWh $2608.44/MWh $3220.62/MWh $2624.65/MWh
1600EST $591.88/MWh $517.11/MWh $677.11/MWh $563.16/MWh $509.38/MWh
1630EST $3487.60/MWh $3154.97/MWh $3755.37/MWh $2800.09/MWh $3049.60/MWh
1700EST $317.00/MWh $287.71/MWh $369.20/MWh $302.90/MWh $279.01/MWh
1730EST $137.70/MWh $124.67/MWh $172.73/Mwh $133.52/MWh $122.38/MWh
1800EST $119.18/MWh
1900EST $129.49/MWh
1930EST $149.00/MWh
2000EST $149.00/MWh
2030EST $149.00/MWh
2100EST $152.51/MWh
2130EST $169.33/MWh

Reference: National Price for NSW, Victoria, South Australia,
Queensland and Snowy for one day, Friday 30 December, in Price/Demand
section of Erisk Net – Realtime NEM Data.

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