Key electricity market observations for the week ending 08 November 2019:
The average weekly spot price and demand for QLD was $63.38/MWh and 6,017 MW respectively. QLD’s weekly average price was down on last week’s average due milder temperatures and demand volumes across the NEM which lead to relatively free-flowing interconnectors resulting allowing cheaper wind generation to penetrate the NEM leading to lower daily spot prices.
The average weekly spot price and demand for NSW was $70.82/MWh and 7,314 MW respectively. This week NSW black-coal units started to turn around with the return to service of Bayswater Unit 2 and Eraring Unit 1. Again free-flowing interconnectors allowed NSW to import cheaper renewable megawatts driving the spot price down last week.
The average weekly spot price and demand for SA was $40.32/MWh and 1,005 MW respectively. Average spot price was subdued this week due to continued solid wind generation volumes and interconnection constraints towards the end of the week resulting in negative price events.
The average weekly spot price and demand for VIC was $71.42/MWh and 4,406 MW respectively. VIC had a milder week of spot prices due to solid wind generation volumes throughout the week particularly. Keeping the spot price raised was the loss of Yallourn Unit 1 due to a tube leak, and the run-down of Yallourn Unit 4 for maintenance.