Did demand side knock out $12,000/MWh price spike?

On Monday electricity prices in SA and Victoria skyrocketed to over $12,000 per MWh but then quickly subsided after a drop in demand. Could this be a sign of the power of demand-side response?

SMS alerts triggered by NEM-Watch alerted us to the fact, whilst out of the office, that the price was bouncing around in Victoria and South Australia yesterday to levels close to the price cap of $12,500 per megawatt-hour.

Looking backwards from this morning we see that the extent to which prices bounced around yesterday in both regions – triggering what appears to be a significant amount of Demand Side Response in both regions:



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles