The high-price events in January and February that contributed to the overall rise in the cap return component of the quarterly average are discussed in Section 1.2.2 • In this quarter, Victorian spot prices averaged $52/MWh, which was a $4/MWh (-8%) reduction from Q1 2023. [...] For the next interval, TI 1320, the market dispatch process had registered the total loss of output from Loy Yang A and the price in Victoria surged to the market price cap (MPC), while the actual flow into Victoria from New South Wales increased to 1,328 MW. [...] © AEMO 2024 | Quarterly Energy Dynamics Q1 2024 19 Negative price occurrence (%) Q1 20 Q1 21 Q1 22 Q1 23 Q1 24 Q1 20 Q1 21 Q1 22 Q1 23 Q1 24 Q1 20 Q1 21 Q1 22 Q1 23 Q1 24 Q1 20 Q1 21 Q1 22 Q1 23 Q1 24 Q1 20 Q1 21 Q1 22 Q1 23 Q1 24 NEM market dynamics After reaching record high levels in the second half of 2023, negative price occurrences across all NEM mainland regions this quarter retreated towar. [...] The main driver for the increased net revenue was an increase in quarterly average battery capacity, increasing 74% year-on-year from 947 MW in Q1 2023 to 1,652 MW this quarter, with a corresponding increase in quarterly average battery availability (from 348 MW in Q1 2023 to 819 MW this quarter). [...] Figure 63 Increase in connection applications and projects under construction (pre-registration) Connections snapshot as at end Q1 for 2023 and 2024 20 15 10 5 0 Q1 23 Q1 24 Q1 23 Q1 24 Q1 23 Q1 24 Q1 23 Q1 24 In Application In Pre-Registration In Registration In Commissioning, to Full Output NSW QLD SA TAS VIC 22 Application stage establishes technical performance and grid integration requirement.
- Pages
- 79
- Published in
- Australia
