Market analysis of 4 February 2024
Regional demand in Victoria peaked at 8,046.20 MW at 18:30 on 4 February 2024. The day’s lowest observation was 3,075.31 MW at 09:25, so demand moved by 4,970.89 MW from trough to peak.
At the demand peak the wholesale price was AUD 299.50/MWh. The day’s highest price, AUD 299.50/MWh, came at 18:25, and the daily price average was AUD 53.60/MWh.
The Demand Profile Through The Day
The first chart traces five-minute demand and dispatchable generation in Victoria, in fixed UTC+10. The gap between the two lines reflects the region’s net interchange with its neighbours across the day.
How The Five Regions Compared
The second chart compares each region’s peak demand for 4 February 2024. Victoria’s peak of 8,046 MW compares with New South Wales 12,295 MW, Queensland 9,276 MW, South Australia 2,287 MW, Tasmania 1,307 MW.
What The Day Means For Operations
For a battery operator, the question is where charging and discharging belonged within this curve. For a generator or retailer, the same timestamps show which intervals carried the most value or cost. Reviewing the day interval by interval keeps these signals visible where a daily average would hide them.
This analysis uses Network Map’s regional observations dated 4 February 2024. Prices are in Australian dollars per megawatt-hour, times use fixed UTC+10, and daily averages give equal weight to each five-minute observation.
Explore The Data
Markets, Revenue Reconciliation, Battery Revenue Benchmarks.
