Australia’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 in the east coast’s building energy crisis.
Several coal-fired power stations are out of action due to technical faults, coal supply problems and other issues, with “If market prices in a region rise to levels which are likely to cause substantial financial stress, then those prices are capped until they return to lower levels,” AEMO says in a document explaining the system.
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