5pm Update: AEMO directs generators to relieve LOR 3 condition

1 min
  • Despite there being sufficient physical generation capacity in Queensland today, AEMO is taking steps to address a critical electricity supply shortfall presently forecast for 6pm to 8pm (AEST) today.
  • Yesterday (12 June), electricity prices in Queensland reached a cumulative high price threshold of $1,359,100 (accumulated over seven days), triggering an administered price cap of $300/MWh under the National Electricity Law and the National Electricity Rules.
  • As a consequence, available offers from generators reduced, contributing to a forecast supply shortfall.
  • To maintain power system security and reliability, AEMO is using its powers under the National Electricity Rules, including to direct generators, to alleviate lack of reserve conditions.
  • At this stage, these efforts have provided sufficient generation to cover the lack of reserve 3 shortfall.
  • The cumulative high price threshold is forecast to be exceeded in some other NEM regions this evening.
  • AEMO will continue to monitor reserve conditions closely in Queensland, and more broadly across the NEM, providing further updates should conditions change.
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