The Australian Energy Market Operator has made an extraordinary move and for the first time suspended the whole east coast electricity market until further notice, as it works to restore calm to the increasingly volatile grid.
Power generation companies are paying sky-high prices for coal and gas. They were repeatedly withdrawing electricity supply from the grid as it became less profitable, triggering AEMO to issue legally binding directions forcing them to fire back up to prevent blackouts, for which they are compensated.
Running the grid in that environment had become an immense task for the market operator, which had to forecast shortfalls and work with companies to fill the gaps. “As consumers, that’s more reassuring than what was there before because it means there will always be supply to meet demand,” Reeve said.
sumeyyailanbey the design of the market rules was by our government bureaucrats ........so are they still there
sumeyyailanbey Going government control of A private industry
sumeyyailanbey Time to nationalise it. Private ownership of essential services just doesn't work.
sumeyyailanbey There is NO gas/coal shortages in Australia, one of the biggest suppliers in the world. Bring the CEOs to Canberra and TELL them to fix it, plenty of domestic supply at a fair price OR the government will FIX IT & the companies will not like their solution one bit, you have 48hrs
sumeyyailanbey A parallel experience to the SMH Board.
sumeyyailanbey Your company are monsters for forcing Rebel to come out!!
sumeyyailanbey But Labor has a plan..🤔🤔🤔
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: theage - 🏆 8. / 77 Read more »
Source: SBSNews - 🏆 3. / 89 Read more »