AER: Reporting on high wholesale prices in Vic and SA in January 2018

“The Australian Energy Regulator (AER) has released its analysis into high wholesale electricity spot prices on 18 and 19 January in South Australia and Victoria.

The AER monitors and reports on events and causes that result in the wholesale electricity spot price exceeding $5000 per megawatt hour (MWh). The wholesale electricity spot price exceeding this threshold triggers the AER reporting, but there can be many reasons a high spot prices occurs, including supply-demand conditions in the wholesale market at the time.

On Thursday 18 February 2018, spot prices exceeded $5000/MWh for four consecutive intervals, from 4.30 pm to 6 pm inclusive in Victoria and South Australia. Prices ranged from $5079/MWh to $13 136/MWh.

On Friday 19 February 2018, in South Australia, the spot price reached $11 864/MWh at 2.30 pm, $13 408/MWh at 3 pm, $5413/MWh at 5 pm and $5332/MWh at 6 pm. The spot price exceeded $5000/MWh only once in Victoria, reaching $10 152/MWh at 2.30 pm.”

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