Key electricity market observations for the week ending 17 May 2019:
Spot prices and demand were marginally firmer (higher) last week averaging $74.78/MWh and 6,005 MW respectively. There was very little volatility in spot prices and when prices looked like they could become volatile we observed CS Energy ramp up generation at Wivenhoe pumped storage.
NSW weekly average spot prices and demand were $82.41/ MWh and 7,860 MW respectively, which were both higher than the previous week. Morning and evening peak periods were more volatile than previous weeks.
SA weekly average spot prices and demand were $87.70/ MWh and 1,315 MW. Spot prices were $9.80/MWh softer than the week prior. The lower average was driven by softer spot prices in the first half of the week, which was relatively to the same time the week before.
VIC weekly average spot price and demand were $88.84/ MWh and 5,041 MW. Spot prices were $14.58/MWh below the previous week and demand 214 MW higher. Increased generation from Yallourn and Loy Yang B were critical to the lower energy prices.