Prices fall to zero across mainland states in Australian’s main grid

Prices fell to zero across the mainland states in Australia’s main grid on Tuesday afternoon – briefly on two different occasions, traders say, although the reason for the pricing anomaly was not immediately clear.

This screen shot – above and below, taken for the 2.35pm five minute pricing slot – shows the prices at zero in every state except Tasmania. It’s  likely due to a combination of relatively low demand, and strong solar and wind output, possibly combined with any network constraints. We’ll update as more information comes to hand.

But we thought it was worth recording. It could be a sign of the times – a signal for more storage to be installed, and for smart software of the type being promoted by an Arnold Schwarzenegger-backed software firm that is using artificial intelligence and machine learning to help wind and solar farms duck negative pricing events.