The long, proud history of the National Electricity Market has crumbled in a manner that has shocked even the most seasoned participants., the market had been stumbling along. In some ways the imposition of controlled, $300-a-megawatt-hour prices early this week was the writing on the wall.
A circuit-breaker was needed, but the new federal government had few options to hand, and effectively passed the responsibility for the next move to the market operator. The “energy-only” aspect of the NEM that served so well under the original centralised power system – and which meant generators were paid only for their output – had long been seen as unworkable given the rapid influx of weather-dependent wind and solar.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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
Source: FinancialReview - 🏆 2. / 90 Read more »
Blackouts dodged as regulator demands answers from power companiesBlackout warnings issued on Tuesday night across the east coast electricity grid did not end up happening because the energy market operator forced power generation companies to fire up units that had been taken offline. | micksfoley micksfoley How successful is all this? micksfoley Proving that the crisis is not one involving availability of electricity generation capacity. This is a crisis created by capitalists playing chicken with a new government they didn't choose, to see how far they can be cowed by corporate power. Labor stand your ground. micksfoley If I sold coal I’d be maximising now for sure
Source: theage - 🏆 8. / 77 Read more »
Blackouts dodged as regulator demands answers from power companiesPower companies have been called to an emergency meeting with the energy market regulator after it forced providers to fire up generators taken offline as fuel prices rose.
Source: brisbanetimes - 🏆 13. / 67 Read more »
Energy market is a crash everyone saw coming, but did nothing to stopThe market suspension is about more than cold weather and power station maintenance - it is about a disgraceful failure in Australian politics. CroweDM Liberal party policies CroweDM 'The country is paying the price for the divisions within the Liberals over the transition to clean energy and the outright denial in the Nationals of global warming and the need to act quickly to reduce the reliance on coal.' Yep, Spud and Matty Caravan should take note. CroweDM Everything’s crashing 😂 We should all jump off a cliff
Source: smh - 🏆 6. / 80 Read more »
Energy market is a crash everyone saw coming, but did nothing to stopThe market suspension is about more than cold weather and power station maintenance - it is about a disgraceful failure in Australian politics. | David Crowe | ANALYSIS auspol energymarket troyevillelolly Load shedding next? The short version is it’s the lnp fault, 9 years of constant ignoring the problem, and now the media are trying to blame a 3 week old government. Smacks of stupidity. Labor, the Greens and Teals aren’t to blame feral Fedeal LNP...
Source: theage - 🏆 8. / 77 Read more »
Blackouts dodged as regulator demands answers from power companiesPower companies have been called to an emergency meeting with the energy market regulator after it forced providers to fire up generators taken offline as fuel prices rose. micksfoley I can give you the reason for the energy crisis: unviable unjustified technically preposterous policies mediocre politicians and lunatic billionaires playing super Climate heroes to catch the spot light. Climate Change policies will turn Australia into a 3rd world country 🦘
Source: smh - 🏆 6. / 80 Read more »