NECA: Investigation into the events of 4 August 1999

NECA has conducted an investigation, under clause 3.13.7 of the code, into the events of 4 August when the spot price in the New South Wales and Snowy regions peaked at $4,880/MWh for the despatch interval ending at 6.50am.  The New South Wales spot price for the trading interval ending at 7am was $3,275/MWh.  This represented a significant variation from forecast which had ranged from $42/MWh based on initial bids to $333/MWh one hour ahead of despatch.

The results of the investigation are attached below.