Monday, 17 March 2008
Market Outcomes: The mainland NEM regions saw high energy prices between trading interval (TI) ending 15:00hrs and TI 17:00hrs on Monday, 17 March 2008. The energy prices peaked at $1,070.23/MWh in New South Wales, $659.68/MWh in Queensland, $7,894.49/MWh in South Australia, $6,948.42/MWh in Snowy and $7,910.08/MWh in Victoria during the period in review.
The cumulative price in South Australia exceeded the threshold of $150,000 and an Administered Price Period was declared from TI 17:30hrs. During the APP, the South Australian region energy and Frequency Control Ancillary Services (FCAS) prices are capped to $100/MWh between 07:00hrs (TI 07:30hrs) and 11:00hrs (TI 23:00hrs) on business days and $50/MWh at all other times. The Administered Price Floor of -$100/MWh between 07:00hrs (TI 07:30hrs) and 11:00hrs (TI 23:00hrs) on working days and -$50/MWh at all other times also applies to energy prices. The APP was extended to 04:00 Wednesday 19 March.
Between TI 17:00hrs 17 March 2008 and TI 10:00hrs 18 March 2008, South Australian energy prices were capped for 50 dispatch intervals. For those intervals, energy prices in neighbouring NEM regions were scaled when there was inter-regional flow towards the South Australia region, in accordance with Rule 3.14.2(e). The price scaling took effect for 32 DIs in Victoria, 22 DIs in Snowy and 2 DIs in New South Wales and Queensland. The scaling reduced prices by nominal amounts only.
The FCAS prices in the mainland NEM regions also increased significantly between TI 15:00hrs to TI 17:00hrs. The lower 6-second FCAS prices in Queensland region peaked at $1391.32/MWh at DI 15:00hrs and the raise 5-minute FCAS prices in mainland NEM regions peaked at $1006.07/MWh at DI 15:05hrs and DI 15:35hrs.
Prices at dispatch intervals (DI) ending 15:05hrs, 15:35hrs and 15:40hrs to be triggered as “subject to review”. The prices were accepted as no manifestly incorrect input was identified.
Principal Contributors: The 30-minute market demand in the South Australian and Victorian regions reached maxima of 3,080MW at 16:30hrs and 9,701MW at 16:00hrs respectively. This was driven by temperatures in Adelaide of up to 40.1 degrees and in Melbourne of 37.8 degrees.
The shortfall of reserves in both South Australia and Victoria regions resulted in the declaration of Lack Of Reserve level 1 (LOR1) condition in South Australia from 15:19hrs to 17:45hrs. The Victoria region experienced an LOR1 condition from 15:30hrs to 18:33hrs, an LOR2 condition from 16:16hrs to 17:13hrs and Low Reserve Condition (LRC) condition from 15:30hrs to 16:30hrs.
Basslink interconnector was operating at maximum power (approximately 590MW) exporting to Victoria.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Sunday, 16 March 2008
Market Outcomes: The South Australian, Snowy and Victorian regions saw maximum energy prices of $384.75/MWh, $367.25/MWh and $369.69/MWh respectively at trading interval (TI) ending 15:00hrs on Sunday, 16 March 2008. Energy and Frequency Control Ancillary Services (FCAS) prices in other NEM regions were not materially affected.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,656MW at 16:30hrs, driven by temperatures in Adelaide of up to 39.6 degrees. In Victoria, the 30-minute market demand reached 8050MW at 16:00hrs driven by temperatures in Melbourne of 38.6 degrees.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Friday, 14 March 2008
Market Outcomes: The South Australian, Snowy and Victorian regions saw maximum energy prices of $393.37/MWh, $349.96/MWh and $392.08/MWh respectively at trading interval (TI) ending 16:00hrs on Friday, 14 March 2008. Energy prices in other NEM regions were not materially affected. The dispatch interval (DI) Raise 5-minute Frequency Control Ancillary Services (FCAS) price for the mainland NEM regions peaked at $108/MWh during this TI.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,934.27MW at 16:00hrs, driven by temperatures in Adelaide of up to 37.6 degrees. In Victoria, the 30-minute market demand reached 9,390MW at 15:30hrs driven by temperatures in Melbourne of 38.6 degrees.
The high Raise 5-minute FCAS prices in the mainland increased were due to limited FCAS availability. Basslink was operating at maximum power export (590MW) to Victoria and could not provide Raise FCAS.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Thursday, 13 March 2008
Market Outcomes: The South Australian region saw energy prices to a maximum of $9,999.72/MWh from trading interval (TI) ending 14:30hrs to 17:30hrs on Thursday, 13 March 2008. The average energy price in South Australia for the day was $1,470/MWh. Energy prices in Victoria increased to a maximum of $302.59/MWh at TI 15:30hrs. Energy prices for remaining NEM regions were not materially affected. The cumulative price for the South Australian region was approximately $140,000 at the end of the day.
Frequency Control Ancillary Services (FCAS) prices for mainland NEM region peaked at $108/MWh at dispatch interval (DI) 15:30hrs.
The change in South Australian energy prices and Heywood interconnector flows caused prices at DI ending 17:35hrs to be triggered as “subject to review”. The prices were accepted as no manifestly incorrect input was identified.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,927MW at TI 14:00hrs, driven by temperatures in Adelaide up to 39.4 degrees. The 30-minute market demand in Victoria rose to 8889MW at TI 16:00hrs, driven by temperatures in Melbourne up to 38.2 degrees.
Approximately 1000MW of Torrens Island’s 1280MW available generation was offered from the time of the first predispatch run on the previous day at prices around $9900/MWh from trading interval (TI) ending 14:30hrs to 17:30hrs.
FCAS availability on the mainland was restricted and the Raise 5 minutes FCAS service prices peaked at more than $100/MW/hr to during the period.
Support to South Australia with cheaper capacity from Victoria was limited to less than 275MW on the Heywood interconnector due to a power system stability limit and less than 52MW on Murraylink interconnector.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Wednesday, 12 March 2008
Market Outcomes: The South Australian region saw energy prices rise to $9,999.72/MWh from trading interval (TI) ending 14:00hrs to 18:00hrs on Wednesday, 12 March 2008. The cumulative price for the South Australian region was approximately $120,000 at the end of the day. Energy and Frequency Control Ancillary Service (FCAS) prices in other NEM regions were not affected.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,916MW at 16:00hrs, driven by temperatures in Adelaide of up to 38.6 degrees. Torrens Island, with an available capacity of 950MW during the event, offered from the time of the first predispatch run on the previous day as follows:
- 620MW at around $400/MWh for TI 13:30hrs to 15:30hrs;
- 740MW at around $400/MWh for TI 16:00hrs; and
- 740MW at more than $9,900/MWh for TI 16:30hrs to 17:00hrs.
The simultaneous trip of the Tailem Bend to Tungkillo and Tailem Bend to Cherry Gardens 275kV lines was classified as a credible contingency from DI 16:05hrs to DI 18:45 hrs due to lightning in the vicinity. Market notices No. 20823 and No. 20825 were issued at 16:16hrs and 18:49hrs respectively to advise the reclassification period. The target flow on the Heywood interconnector was reduced by around 260MW to less than 120MW in the Victoria to South Australia direction. The flow on the Murraylink interconnector was limited to less than 100MW due to a voltage stability limit.
At 16:41hrs approximately 740MW of Torrens Island capacity was re-offered to bands priced at more than $9,900/MWh for TI 17:30hrs and TI 18:00hrs. This caused the period of near VoLL pricing to be extended for one hour beyond the forecast in predispatch.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Tuesday, 11 March 2008
Market Outcomes: The South Australian region saw an energy price of $400.72/MWh from trading interval (TI) ending 16:00hrs to 17:00hrs on Tuesday, 11 March 2008. The cumulative price for the South Australian region was lifted to approximately $136,000 by the end of the day. Energy and Frequency Control Ancillary Service (FCAS) prices in other NEM regions were not affected.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,774MW at 16:30hrs, driven by temperatures in Adelaide of up to 37.6 degrees. Approximately 490MW of Torrens Island’s 1040MW available generation was offered from the time of the first predispatch run on the previous day at prices around $400/MWh from trading interval (TI) ending 13:00hrs to 17:00hrs.
Support to South Australia with cheaper capacity from Victoria was limited to less than 310MW on the Heywood interconnector due to a power system stability limit and less than 80MW on Murraylink.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Monday, 10 March 2008
Market Outcomes: The Tasmanian region experienced an energy price of $838.35/MWh at trading interval ending 16:00hrs on Monday, 11 March 2008, due to a price of $4,247.14/MWh for the dispatch interval (DI) ending 15:35hrs. Energy and Frequency Control Ancillary Service (FCAS) prices in other NEM regions were not affected.
Principal Contributors: Approximately 620MW of Tasmanian generation capacity, which was offered in bands priced at less than $30/MWh, was shifted to the higher priced bands at DI 15:35hrs.
The Basslink interconnector had been exporting more than 100MW towards Victoria. As the revised offers made supply from Tasmania to Victoria uneconomic, Basslink dispatch was reduced to 50MW (towards Victoria) for DI 15:35hrs. Constraints that recognise Basslink's technical operating limitations within the band +50MW to -50MW prevented dispatch to a lesser value. The energy prices in Tasmania reduced to typical values after Basslink reversed its flow (towards the Tasmanian region) in the next DI.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Friday, 7 March 2008
Market Outcomes: The South Australian region saw a maximum energy price of $7,004.20/MWh at trading interval ending 16:00hrs on Friday, 7 March 2008. Energy and Frequency Control Ancillary Service (FCAS) prices in other NEM regions were not affected.
The change in the South Australia energy prices and Murraylink interconnector flows caused prices at dispatch interval (DI) ending 14:45hrs and 16:05hrs to be triggered as “subject to review”. The prices were accepted as no manifestly incorrect input was identified. The cumulative price for the South Australian region was lifted to $132,000 by this event.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,855MW at 17:00hrs, driven by temperatures in Adelaide of up to 38.3 degrees. Approximately 810MW of Torrens Island's 1030MW available generation was offered from the time of the first predispatch run on the previous day at prices around $400/MWh for Trading Interval (TI) ending 15:00hrs and around $7,000/MWh for the two TIs ending 15:30hrs and 16:00hrs.
Support to South Australia with cheaper capacity from Victoria was limited to less than 340MW on the Heywood interconnector due to a power system stability limit and less than 110MW on Murraylink.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Thursday, 6 March 2008
Market Outcomes: The South Australian region experienced near – VoLL ($10,000/MWh) energy prices between dispatch interval (DI) ending 14:35hrs and DI 17:00hrs on Thursday, 6 March 2008. The region saw a maximum price of $9,950.75/MWh at trading interval (TI) ending 16:00hrs. Energy and Frequency Control Ancillary Service (FCAS) prices in other NEM regions were not affected. A market notice was issued at 16:40 hrs to alert the market that the weekly Cumulative Price in the previous 336 trading intervals was approximately $107,000 in the South Australian region. The cumulative price for South Australia was approximately $117,000 at the end of the day and is forecast in predispatch to rise to $132,000 today.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,724.21MW at 16:00hrs, driven by temperatures in Adelaide of up to 37.8 degrees. Approximately 810MW of Torrens Island generator’s 1030MW available generation was offered from the time of the first predispatch run on the previous day at prices exceeding $9,000/MWh from DI 14:35hrs to DI 17:00hrs. Support to South Australia with cheaper capacity from Victoria was limited to less than 360MW on the Heywood interconnector due to a power system stability limit and less than 100MW on the Murraylink interconnector.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
Wednesday, 5 March 2008
Market Outcomes: The South Australian region experienced near - VoLL energy prices between dispatch interval (DI) ending 14:35hrs and DI 17:30hrs on Wednesday, 5 March 2008. The region saw a maximum price of $9,975.23/MWh at trading interval (TI) ending 16:00hrs. Energy and Frequency Control Ancillary Service (FCAS) prices in other NEM regions were not affected.
The change in the South Australia energy prices and Murraylink interconnector flows caused prices at dispatch interval (DI) ending 17:35hrs to be triggered as “subject to review”. The prices were accepted as no manifestly incorrect input was identified.
Principal Contributors: The 30-minute market demand in the South Australian region reached 2,696MW at 16:30hrs, driven by temperatures in Adelaide of up to 37.1 degrees. Approximately 720MW of Torrens Island generator’s 910MW available generation was offered from the time of the first predispatch run on the previous day at prices exceeding $9,000/MWh from DI 14:35hrs to DI 17:30hrs. Support to South Australia with cheaper capacity from Victoria was limited to less than 340MW on the Heywood interconnector due to a power system stability limit and less than 110MW on Murraylink.
Market Performance: Outcomes appear to be consistent with the dispatch offers and power system conditions during the event.
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