The Australian Energy Market Operator has taken the extraordinary step of suspending the spot market for wholesale electricity.It forced AEMO to cap prices and compel generators to offer their servicesThe electricity sector has been dealing with soaring costs, forcing AEMO to cap prices and compel generators to offer their services.
AEMO has now suspended the spot market entirely across the National Electricity Market, saying it is impossible to ensure reliable electricity supply under the current circumstances.AEMO chief executive Daniel Westerman says suspending the market will simplify operations of the electricity market. "In the current situation, suspending the market is the best way to ensure a reliable supply of electricity for Australian homes and businesses," Mr Westerman said.
Remember when we were sold the lie that privatisation would benefit everyone? Much like the LNPs 'trickle down effect' bullshit? Still waiting.
Seems this has come about because the government dictated to a company what they could charge when usage goes over and above contracted wholesale supply amount. All the retailers seem to make a big chunk in the way through. Should we be looking into that?
Once upon a time, state governments owned the essential supply of electricity... We were told we could look forward to cheaper, more reliable electricity if we privatised... So it came to be that each state slowly sold off the state owned assets... And here we are...
Surely there is a Breach of Contract by the Wholesaler’s that warrants removal of all their market control entitlements and complete return to state and national control / and ownership
Can the next step be to suspend our bills?
Didn't take long for Australia to turn to shit under AlboMP
Trump 2024!
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