The Queensland region experienced significantly high energy and FCAS prices on the evening of Monday, 8 October 2007, when several sections of double circuit transmission lines forming QNI were reclassified as a credible contingency due to lightning in the vicinity.
Market outcomes included:
- The dispatch interval prices for the Queensland region reached $10,000/MWh and the spot price for the half-hour ended 17:00 was$3439.83/MWh
- Negative settlement residues of approximately $238,000 for the day were accrued on QNI.
The Kogan Creek generator was not included in one of the reclassification constraint equations, however the effect of this on market outcomes was found to be not material.
The report examines this incident in detail. It does not make any recommendations.
For enquiries regarding this document, please contact: Shantha Ranatunga, Market Review and Process Implementation.
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Market Event Report - High Energy Price in QLD : 08 October 2007 - 03 Jan 2008 |