Market traders will be sweating. Today in the green-star renewable state of South Australia there won’t be much wind blowing, they’re weeks away from the lowest solar insolation of the year, and the extension cord to the coal plants in Victoria is limited for some reason.
This below is the remarkable AEMO prediction for South Australian for wholesale electricity today. Note the scale on the left hand side. The flat tops on the price peaks mark the cap at $15,000 per megawatt hour. The sheer width of those spike predictions is awesome — potentially nearly ten hours of the day above $10,000. Demand is only 1,500 – 1,800MW but that’s still a bill of $15 million dollars an hour for a small state.
Note the size of those peaks…
The first peak is forecast from 6.30-10am, and the second batch pretty much stretch from 6pm to midnight. Wow.
The AEMO is handing out LOR (Lack of Reserve) notices. Watch the Market Notices here. Watch prices here. For those so inclined.