Power companies accused of ‘unconscionable conduct’ as they withdraw from grid

Power generators are exploiting the chaotic energy market by withdrawing power supply from the electricity grid, forcing the energy market operator to direct them to fire their plants back up and triggering profitable compensation payments.

But the electricity market is tightly regulated and the Australian Energy Market Operator has powers, designed to prevent blackouts, which enable it to force generators to fire up units and start supplying electricity to the grid. Whenever it does this, companies are awarded compensation. Asked on Tuesday if power companies were gaming the system, federal Energy Minister Chris Bowen said the compliance regulator was monitoring the situation “very, very closely”.

“I have been in contact with [the Australian Energy Market Operator] and they are confident the situation can be and will be avoided in NSW and Victoria in particular in coming days,” Bowen said on Tuesday. “Nobody should turn off any power usage that they need for their comfort or their safety ... nobody is asking for that to happen.”

micksfoley Once owned Origin and AGL shares - sold them because of massive state govt policy failure and dreadful treatment by idiots who don’t understand generation and distribution.

micksfoley Bucks talk ... soft feelings walk

micksfoley just as well our governments are so smart........?

micksfoley speaking of unconscionable conduct… how’s that apology going for you? we can all tell it was half-assed. credibility on 0 mode lmaooooo

micksfoley Are celebrities & Greens charging their Tesla during power crisis?

micksfoley what do we expect from profit hungry, ignorant goons. it's easy money for them, in a dying industry

micksfoley Do it.

micksfoley ITS DONE DELIBERATELY!!! WAKE UP PPL!!! This is all about changing the system you refer as DEMOCRACY!!!!

micksfoley SMH credibility is in the bin. You wrote what you did with bitterness & with an intention to hurt and harm Rebel. You wanted revenge, you used your keyboard with words as weapons to strike & play yourself as the victim. This apology is only so you'll stop being held accountable.

micksfoley NSW guzzles away 11,690 MW at 7 pm 14 June 2022

micksfoley “Victorian Energy Minister Lily D’Ambrosio warned it was “unacceptable to see some businesses potentially gaming the system to increase their profits”.” 😂 What does she think the mad rush to renewables and government subsidies was?

micksfoley Privatisation for the win

micksfoley Zali and Sophie and all the other teals will ring the power companies and offer their homes to be shut off from the grid until the sun shines brightly again.

micksfoley Get the greens and labor involved, they’ll know what to do!

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Power companies accused of ‘unconscionable conduct’ as they withdraw from gridA massive amount of capacity has been withdrawn from the electricity grid in recent days, triggering compensation payments to power plants to get it back. energy They were trying to be woke, now the rest of us are going broke. Simply replacing existing coal fired power stations with new ones with modern tech would have seen a massive reduction of emissions in the power sector - between 30% and 40%. Would of kept the lights on too. Oh well, learn the hard way. Sounds like a good old fashioned rort. I wonder who enabled this one.
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Energy market operator caps Qld power price as crisis buildsAustralia’s national energy market operator has intervened to cap electricity wholesale prices in Queensland for what is thought to be the first time ever after a sustained period of extreme prices.
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