Key electricity market observations for the week ending 21 June 2019:
The weekly spot price and demand for QLD was $82.07/MWh and 6,054 MW respectively. Average demand was softer relative to previous weeks, however the average spot price increased by approximately $6.00/MWh. This was largely due to numerous morning price spikes caused by a mismatch in solar ramp-up and morning peak demand which was only exacerbated by reduced baseload.
NSW weekly average spot price and demand were $91.21/MWh and 8,807 MW respectively. Demand progressively increased throughout the week with peak demand for the week occurring on Thursday night at 11,701 MW.
Wind generation was generally low last week in SA (more so in the second half of the week) reducing low cost energy supply and making the state more reliant on gas generation.
VIC 2019 and 2020 futures traded up during the week suggesting that in the coming week we can expect to see upward movement in the SA curve.