Spot prices across the mainland averaged between $17/MWh in Queensland and $31/MWh in South Australia. The average price in Tasmania increased compared to the previous week to $45/MWh, as a result of high prices on Sunday night, coinciding with a planned network outage.
Turnover in the energy market was $83 million. The total cost of ancillary services for the week, including Tasmania, was around $450 000, or 0.5 per cent of energy market turnover.
The AER welcomes comments on the information contained in, or the layout of, the report. Comments should be sent to Peter Adams or Mark Wilson, AER, GPO Box 922, Adelaide SA 5000 (email AERInquiry@aer.gov.au; fax (08) 8213 3414).
Figure 1 sets out national demand and spot prices in each region for each trading interval. Figure 2 compares the volume weighted average price with the averages for the previous week and the same quarter last year. Figure 3 compares the weekly price volatility index on the same basis.
Figure 1 National demand and spot price all regions
Figure 2 Volume weighted average spot price for energy market ($/MWh)
Maximum spot prices reached $30/MWh in Queensland and $32/MWh in New South Wales. South Australia and Victoria reached their maximum spot price, $1734/MWh and $1594/MWh respectively, on Monday morning at 9.30am following a planned network outage in the Snowy region. Tasmania’s maximum spot price of $3349/MWh occurred on Sunday at 7.30pm, also as a result of a network outage.
There were no low reserve conditions forecast during the week.
The total cost of ancillary services on the mainland for the week was $395 000 or 0.5 per cent of the total turnover in the energy market in those regions.
Figure 4 Volume weighted average frequency control ancillary service prices (excluding Tasmania)
Raise
Lower
6 sec
60 sec
5 min
Reg
6 sec
60 sec
5 min
Reg
Last week($/MW)
2.78
0.91
1.46
1.16
0.31
0.31
1.08
1.84
Previous week ($/MW)
1.52
0.72
1.56
1.58
0.21
0.29
0.65
1.83
Last quarter ($/MW)
1.76
0.73
1.15
1.54
0.39
2.28
5
1.93
Market cost($1000s)
148
49
99
25
3
3
27
40
% of energy market
0.2%
0.06%
0.13%
0.03%
0.01%
0.01%
0.04%
0.05%
The total cost of ancillary services in Tasmania for the week was $58 000 or 1 per cent of the total turnover in the energy market in Tasmania. There was insufficient raise regulation available on Sunday night for a single dispatch interval as a result of a unit trip and the network outage between Farrell and Sheffield.
Figure 5 Tasmanian volume weighted average frequency control ancillary service prices
Raise
Lower
6 sec
60 sec
5 min
Reg
6 sec
60 sec
5 min
Reg
Last week($/MW)
0.15
0.1
0.1
4.93
0.44
0.1
0.1
0.1
Previous week ($/MW)
2.11
0.12
0.23
0.17
0.26
0.1
0.1
0.11
Last quarter ($/MWh)
7.89
1.05
1.05
1.58
4.43
1.06
1.06
1.97
Tasmania Market cost($1000s)
1
1
1
42
6
3
3
1
% Tasmania of energy market
0.01%
0.01%
0.01%
0.51%
0.08%
0.04%
0.03%
0.01%
Figure 6 shows the daily breakdown of price for each frequency control ancillary service. It also includes the cost of services sourced locally and in Tasmania.
Figure 6 Daily frequency control ancillary service prices
Figure 7 shows the weekly participation in each of the ancillary service markets on a regional basis.
Figure 7 Regional participation in ancillary services
Figures 8 and 9 show 30-minute prices for each of the ancillary services.
Figure 8 Prices for raise services
Figure 9 Prices for lower services
Figures 10 and 11 show the 30-minute Tasmanian price for each of the ancillary services.
Figure 10 Tasmanian prices for raise services
Figure 11 Tasmanian prices for lower services
Figures 12 and 13 present both the raise and lower requirements for each service over the week.
Figure 12 Raise requirements
Figure 13 Lower requirements
Figures 14 and 15 present both the raise and lower Tasmanian requirements for each service over the week.
