"Policy Blackout"
2nd February 2009
Keith Orchison (former Executive Director of the ESAA, before it became lower-case), now writing in the Australian and the Business Spectator, made reference to the fascination of experiencing live prices in NEM-Watch in this article:
Keith talks about prices in the mainland rising to $300/MWh, which is what was happening after the Cumulative Price Threshold was reached, and the price cap (of $300/MWh) was implemented.
For further explanation of everything that went on on that day, you might be interested in this article we published on our electricity market blog (Watt Clarity ®):
Massive Demand, Huge Prices, Load Shedding and the Cumulative Price Threshold (and lessons learnt?)
As time permits, we're also assembling further thoughts on what lessons can be learnt from the events of summer 2008-09.