Australia’s east coast energy market operator has made the right decision in the circumstances toThe wholesale electricity market is the financial engine of the National Electricity Market, designed by governments in the late 1990s to match power generation with demand at lowest cost. It has been largely a success since then.
Prices began to rise alarmingly, from less than $100 per megawatt hour to $300 and more. Gas generators, usually the safety valve to meet short-term peak demand, were unable to meet demand either because of gas delivery constraints or because the price they had to pay on the spot market was too high even with the elevated power prices.AEMO used all the tools at its disposal to try to correct the market, but they were clearly inadequate for the continuingSo AEMO suspended the market.
The situation was not primarily caused by too much reliance on coal or renewables, the age of the coal plants, or even the failure of governments to implement integrated climate change and energy policy. That price had been around $10 per gigajoule. Demand from Europe to address issues with Russian gas supply after the invasion of Ukraine resulted in that price jumping to about $40, a level unsustainable for gas or electricity consumers in Australia.Instead, the government should sit down with the gas producers and make clear that enough volume at a fair price must be available domestically.
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Energy market operator suspends spot market for wholesale electricityThe electricity market operator takes the extraordinary step of suspending the spot market for wholesale electricity. GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe Trump 2024! Didn't take long for Australia to turn to shit under AlboMP
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Australia news LIVE: Energy market suspends trading to sure up electricity grid; Fair Work Commission raises minimum wage by 5.2 per cent; RBA predicts 7 per cent inflation by end of 2022Breaking: The Australian Energy Market Operator has taken control of the electricity market, suspending trading of power generation until further notice Golden Rule: Never trust the private sector with anything important. GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe GasLedCatastrophe great to hear the government is trying to do its job......at last
La source: smh - 🏆 6. / 80 Lire la suite »
'Impossible to operate': Electricity market suspended as energy crisis escalatesThe national electricity market has been suspended as the market operator says it has become 'impossible' to operate within the rules. The 'providers' will have banded together and now about to hold a country to ransom, all for greed. We have been shafted by an LNP govt, and we're going to feel pain ALL essential services should be govt owned.......end of this feels like a shake down & a pxssing contest. dont suppose you have any journalists that can take a bit of look, make some phone calls? or is the entire journalistic endeavor just re-printing press releases now? -JC electricity
La source: SBSNews - 🏆 3. / 89 Lire la suite »
National electricity market suspendedGuys rate my nude photos) The Driving factor here is Greed Pure and Simple .😡 Suspend all Gas and Coal exports from Australia. Fossil Fuel Companies flexing their muscles,it about time we flexed back, who the He'll do these Greedy Companies think they are. All this maintenance Bullshit stinks of Greed and Rorting, Profits at all costs.😡
La source: SkyNewsAust - 🏆 7. / 78 Lire la suite »
AEMO suspends electricity marketThe Australian Energy Market Operator said generators needed to put more supply into the grid over the next few days to avoid any load-shedding. How has Australia become a 3rd world country where citizens can no longer turn on the switch to get basic services like electricity or gas. Government must take back OUR resources from foreign owned profit driven multinationals WHO PAY NO TAX. 🤬 Australians be mad as hell. Yeah, they can carry the cost of a failed 'green washing' of our energy supplies Why would they when the price is capped and they would make a loss
La source: FinancialReview - 🏆 2. / 90 Lire la suite »