Nigel Wilson from The Australian sought insights to explain ‘overheating’ electricity prices during the later part of summer in 2008. Nigel begins his article by stating:
“RECORD electricity demand in sweltering Victoria and South Australia yesterday pushed short-term prices close to the capped maximums, making a rise in wholesale and contract prices likely.”
And compiled insights from our CEO, Paul McArdle:
“Paul McArdle of electricity market monitor, Global-Roam, said the massive demand had had a big impact on prices.” going on to state “Global-Roam’s indicators show that by mid-afternoon there were substantial flows of electricity into Victoria from NSW, Tasmania and from Snowy Hydro.”
Our CEO, Paul McArdle has provided insights to Duncan Hughes from the Australian Financial Review in regards to how a power upgrade delay may cost energy users.
The article begins:
“DEFERRING until 2015 a $120 million upgrade of an electricity interconnector between Queensland and NSW will cost energy users about $5 billion in higher charges, major energy users say.
They claim an arcane formula – called the regulatory test – used to assess the merits of boosting the interconnector fails to take account for the real impact of the outcome on their costs.”
With the author quotes Paul commenting on the situation’s effects:
“Paul McArdle, managing director of market monitor NEM-Watch, said higher generating prices in summer peak periods would raise costs by $690 million a year, or about $5 billion for the next seven years.”
An investment manager has recently contacted us, telling us about how highly they rate NEM-Watch:
“You have clearly got the best product in the market, by a country mile (about NEM-Watch)”
Julian Turecek – Investment Manager – Cleantech Ventures
6th of March 2008
It’s great to hear that our relentless will to keep improving and iterating our products, is being noticed by our valued clients.