Our CEO, Paul McArdle recently penned an article on WattClarity pondering whether the remarkable price results from Q2 were a short lived excursion or whether they are the begging of a more systematic change in pricing patterns. Paul’s article caught the attention of several journalists including Ben Potter from the Australian Financial Review, who referenced the analysis in his piece ‘COAG out of action as electricity prices soar‘, and sought comments from Paul on the topic:
Average wholesale electricity prices across the National Electricity Market shot up to $65-$80 a megawatt hour in the mainland NEM states in the June quarter, and to $120 in Tasmania, Paul McArdle, director of GlobalRoam, said.
Following on from the significant piece of analysis we performed about the nature of volatility in the energy market (separately noted on WattClarity® in articles such as this one) we were tasked with speaking at All Energy in October 2013 to help our audience understand how renewable energy might integrate into the broader energy market in future years.
As part of this presentation, we provided this animated walk-through of one particular day in the Queensland region of the National Electricity Market (20th December 2012) which saw instances of price volatility:
This animation was prepared using our ez2view detailed market dashboard for the NEM and helps to identify some of the variety of factors that can generally be seen to interact to produce spot price volatility.