Tasmania and Victoria experienced negative spot prices of -$118.81/MWh and $291.08/MWh respectively, while Victoria, South Australia and the Snowy region posted maximum energy prices of $1,525.04/MWh, $5,057.04/MWh and $4,823.05/MWh respectively on Monday, 31 December 2007 over the period 11:30hrs to 14:30hrs.
There were three unplanned transmission outages that contributed to the price fluctuations:
- Gordon to Chapel St. No.1 220kV line from 12:31hrs to 15:10hrs;
- Moorabool 220kV 2 busbar (off-loading two 220kV lines ) from 12:38hrs to 13:05hrs; and
- Basslink interconnector due to a transformer fault from 12:51hrs.
A direction was issued to a Tasmanian Generator to reduce its output capacity in order to maintain power system security.
This final market event report supersedes a preliminary report that was published on NEMMCO’s website on 14 January 2008.
For enquiries regarding this document, please contact: Shantha Ranatunga, Market Review and Process Implementation.
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Market Event Report - High Energy and FCAS Prices in the Southern NEM Region : 31 December 2007 - 05 Mar 2008 |