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.”