A binding constraint (T_BLINK_TV_NGZ) in TAS1 reached an exceptionally high shadow price of $8.352 million, indicating severe congestion or equipment limitation. This event occurred during a period of volatile pricing, with TAS1 RRP fluctuating between $20.12 and $52.14/MWh across the six settlement intervals, peaking in the 23:40–23:45 window.
The extreme marginal value on the T_BLINK_TV_NGZ constraint suggests a physical or operational limit was binding on dispatch decisions during this period. The generation mix shows substantial hydro output (3,109 MW combined) alongside wind (500 MW) and gas-fired generation (331 MW), indicating the constraint was activated despite adequate supply availability, pointing to a transmission or interconnection capacity restriction rather than shortage-driven scarcity. The volatility in prices and the presence of multiple lower-valued binding constraints (F_T+LREG_0050, F_T+NIL_ML_L6) suggests the binding constraint dominated price formation across multiple dispatch intervals.
Causal analysis generated by gridIQ's synthesis model from live AEMO market data: dispatch prices, generation mix, interconnector flows and market notices in the interval surrounding the event.