What is the spot market for wholesale electricity, and how will AEMO’s decision to suspend it affect consumers?

To ensure our lights stay on, the amount of electricity being sold on the market must match the amount of electricity needed by households and businesses. AEMO oversees this.The rest is bought and sold on what is called the spot market.

The spot price is the cost of wholesale power at any single point in time. It changes throughout the day depending on the demand and is typically most expensive in the mid-afternoon and the evening, when households and businesses are using the most power. "Suspending the spot market" means that instead of power being sold for a changeable spot price, it's sold for a fixed price determined by AEMO.AEMO chief executive Daniel Westerman said suspending the market would simplify supply problems.Rising prices of gas and coal and a series of unplanned power station outages saw the wholesale price of power skyrocket last week.

But CEO Simon Westerman said: "It was impossible to operate the system under current conditions while ensuring reliable, secure supply of electricity to Australian homes and businesses."

This was Enron 20 years ago, it seems we are still here....

This is what he is going to say-we inherited 9 years of LCP power neglect ( never once raised the urgency 9 years in opposition though ), we got an increase in wages for those on the basic wage ( unemployment in this sector set to rise next 6 months ), we've got China on the run

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