South Australian Wholesale Electricity Price Review 29th July – 4th August 2018

Pool prices fell last week due to strong wind generation throughout most of the week and some negative half-hour prices dragging the average down below the median price.

The average price was a relatively low $61.09/MWh with the median price being $65.13/MWh. The average was lower than the median due to several half-hour periods of negative prices, the lowest of which was -$366.10/MWh. There were no half-hour prices above $300/MWh and […]

By | 2018-08-08T19:59:12+00:00 August 7th, 2018|Perspective|

Employing Demand Response To Reduce Electricity Costs

With the recent recommendations of the ACCC to implement a demand response mechanism to “promote competition” and “not allow retailers to limit the ability of customers to engage a third party demand response provider” I thought that I would share excerpts from Chapter 13 of my recent book Power Profits – A Comprehensive 9-Step Framework For Reducing Electricity Costs and Boosting Profits.

This Chapter discusses how end users have the option not to accept plain […]

By | 2018-08-06T21:25:48+00:00 August 6th, 2018|Perspective|

South Australian Wholesale Electricity Price Review 22nd – 28th July

Prices increased in the week of 22nd – 28th July due to one high price spike on Saturday the 28th when wind generation and imports from Victoria dropped to almost zero during the morning high demand period. High-cost Open Cycle Gas Turbine Generation (OCGT)  and diesel generation were required to meet demand during this period. The average price was $93.10/MWh compared with the prior week of $76.20/MWh.

Figure 1 shows a box […]

By | 2018-08-01T10:28:34+00:00 August 1st, 2018|Perspective|

Review of South Australian Electricity Prices 8th – 21st July

South Australian Wholesale Electricity Price Review 8th – 21st July

This week’s blog covers the last two weeks electricity price action as I was “curtailed” last weekend with higher demand elsewhere.

The prices during the week of the 8th-14th July were significantly higher than previous weeks due to a scheduled outage of a transmission line connecting the South East of the State to the rest of South Australia on the 9th July.  This […]

By | 2018-07-26T03:30:36+00:00 July 26th, 2018|Perspective|

Review of South Australian Weekly Electricity Prices 1st – 7th July 2018

The wind returned to South Australia last week increasing wind generation and pushing down wholesale market electricity prices to an average weekly price of $64.99/MWh. Peak period prices averages $73.78/MWh (7.38 c/kWh) and off-peak period prices averaged $58.70/MWh (5.87 c/kWh).

Figure 1 shows the box plot of the daily distribution of half-hour prices for the week. The distribution of half-hour prices dropped sharply on Tuesday 3rd July and remained low for the remainder of the weak. […]

By | 2018-07-08T04:12:44+00:00 July 8th, 2018|Perspective|

South Australian Wholesale Electricity Prices For The Week 24th to 30th June 2018

The last week of June 2018 saw very low wind for much of the week and so prices rose on the back of increased reliance on more expensive gas generation, particularly Open Cycle Gas Turbine generation and on imports from Victoria. The average wholesale market price for the week was $115.89/MWh and the median was $111.58/MWh.

Figure 1 shows the box plot of the daily distribution of half-hour prices for the week. It can be seen […]

By | 2018-07-02T07:37:38+00:00 July 2nd, 2018|Perspective|

Review of South Australian Electricity Prices 17th – 23rd June 2018

This week, the Southern Hemisphere Winter Solstice and low wind combined to push wholesale electricity prices up. Demand jumped up with a combination of cold, winter weather and low wind generation and the lack of wind generation encouraged more Open Cycle Gas Turbine (OCGT) generation, Victorian imports and even some diesel generation.

Figure 1 shows the time series plot of demand for the week with demand reaching more than 2200 MW four times during the early evenings […]

By | 2018-06-24T05:39:40+00:00 June 24th, 2018|Perspective|

Review of South Australian Electricity Prices 10th June – 16th June 2018

The second week of Winter in South Australia was quite chilly with several days reaching a daily maximum temperature of only 15C with typical minimum temperatures of around 9C. Despite the cold weather, electricity prices remained relatively low, by South Australian standards, with an average wholesale electricity price of $73.37/MWh (7.34 c/kWh). The driver of the lower prices was a relatively high and stable level of wind generation.

Figure 1, below, shows the distribution of half-hour pool […]

By | 2018-06-17T02:40:54+00:00 June 17th, 2018|Perspective|

Review of South Australian Electricity Prices 3rd – 9th June 2018

The first week of Winter in South Australia saw an increase in wholesale market electricity pool (spot) prices with very low wind on all but three days of the week. The week started with almost no wind generation but on Wednesday 6th June the wind came back displacing interconnector imports and a large amount of the gas generation, particularly the Open Cycle Gas Turbines (OCGT). On Thursday 7th of June as the wind picked up […]

By | 2018-06-10T03:32:28+00:00 June 10th, 2018|Perspective|

Review of South Australian Weekly Electricity Prices 27th May – 2nd June 2018

The last week of Autumn 2018, over the period from Sunday 27th May to Saturday 2nd June, has been very interesting for explaining South Australian electricity price action as it was a great example of how generation mix and price change with changes in wind generation. The week was characterised by modest demand throughout the week and a drop off in wind generation in the second half of the week. Overall, electricity prices were relatively […]

By | 2018-06-03T06:04:21+00:00 June 3rd, 2018|Perspective|