Wholesale prices surged higher and broke through a specific price threshold — due to a combination of international and local factors, which we'll come back to — so AEMO introduced a price cap.When the price cap was introduced at the beginning of the week, some fossil fuel generators withdrew a huge amount of capacity from the market on the basis that their operations would be unprofitable under that price cap.to supply the system at such low prices.
and politicians were asking voters to switch off appliances, with fears the system would need to shed some "load" .However, AEMO eventually took the unprecedented step of suspending the spot market for wholesale electricity entirely on Wednesday.to supply power to the system at a set price, regardless of the impact on their profits.
Ms Savage said she suspected their behaviour "may be motivated" by "seeking to avoid" the compensation scheme offered under the price cap "in favour of" the compensation they'd get if AEMO ordered them to supply power to the system.
Course it can.We're,as I've read on social media so many times a rich nation spendspendspend abcnews auspol
Australia we have 200 years of coal The world is burning more coal & will burn more in the future Aust chief scientist 2019, Fossil fuels have brought tremendous advantages to our lives & remain, a reliable source of energy.
Watch
Can someone explain why Tasmania where 80-90% of power is hydro, needs to increase power prices? It doesn’t make sense and ABC is not investigating?
Keep the coal and gas fires burning until renewables can take their place. Batteries won't fill the gap for years.
Of course it can. Just needs people to go without their dividends.
This is what happens when critical public services & assets are placed into the hands of greedy overseas owned corporations.
Too much steam
The problem is it's a liberal thing selling most of our resources over seas . Yeh just stop the bull.
grhutchens Current Sydney power supply has too many problems. Take yesterday's transformer fire at Dapto substation at 3 pm. So at a time when peaking plants have to prepare for the evening Tallawarra gas peaking plant had to be shut down for 2 hrs KerryAtWork peter_weissmann
Lets give all our natural resources to private business so they make enormous profits and of course tax free
It will be fixed while ABC/Green garbage are hiding in South America
When you try and transition to clean energy too fast this is what happens. Poor management from the Liberals.
Build more Nuclear so you will have more reliable energy.
Yes it is but not for the reasons that you think.
I have a question. Can any one please advise. Did any area actually get the power turned off in the last 2 weeks due to lack of supply ? I hear a lot of concern about it potentially issues, but its not widely reported where this occurred.
Still waiting for someone to outline the annual cost to the budget for the next 8 years.
Stop decommissioning reliable Power Station's unless you have a reliable energy source to replace them if don't want blackouts. It's that simple.
.. there should've never been an 'electricity market'. This is THE problem!
April 2022 Federal Liberal government in power, Electricity market wasn't in trouble June 2022 Federal Labor government in power Electricity market is in trouble , go figure , if Liberal party was in power now, no trouble at all
More facts you won't read about on a Greens press release or their ABC.
This is a question that you should pose and demand answers from AdamBandt and AlboMP, who parties have caused this due to years of fighting against nuclear, power station upgrades etc.
yet last week all we heard from ABCNews was “energy crisis!”, “energy crisis!” …
Energy supply, crisis? Groan....... Expect there will be some review of earlier inputs from Mr A Finkel and Mr R Garnaut et al. Then referral to experienced energy scientists, engineers et al to implement policy. Groan again......
Can by getting rid of the cabal and ABC propaganda rag
It can be fixed, but it requires a government that is prepared to take the decision to nationalise the essential services and put Australians before profits.
Over to you Greta's 👍 In theory by the end of Albo's term all of Australia's power needs reliably/cheaper 24/7, will be meet using only renewables , cause the only thing stopping this is the want to do it. auspol 'in theory'
America is in crisis America is no longer the America it used to be