Key electricity market observations for the week ending 9 August 2019:
In QLD, the continuation of the Kogan Creek major overhaul has done little to lift price, and with fewer line constraints experienced last week, strong solar output by rooftop PV and large scale solar generation squashed day-time prices.
There were two baseload availability issues in NSW apart from the planned continuation of maintenance on with AGL’s Bayswater 4 which came offline on the 01/08, with Eraring Unit 3 coming offline on the 05/08 due to a suspected tube leak, and EA’s Mt Piper Unit 2 coming offline on the 07/08 due to an unexpected plant trip. PASA also indicates that the next unit to come offline for maintenance is likely one of another of Origin’s Eraring units on the 13/08. These events have caused NSW prices to lift slightly in the short-term.
VIC average spot price increased again on the prior week’s average by ~$6/MWh. This was largely due to Loy Yang B1 coming offline early on Saturday morning last weekend due to a suspected tube leak and the extremely low wind generation on Saturday, Sunday and Wednesday last week, with the region relying heavily on imports from SA, NSW and Tas. At this stage, PASA indicates a movement of Loy Yang B1 size indicatively returning 11/09.