Australia suspends electricity market to stave off blackouts

📆 6/15/2022 3:39 AM
📰 ChannelNewsAsia

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

SYDNEY: Australia\u0027s energy regulator seized control of the national power grid on Wednesday (Jun 15), suspending a market-based system roiled by soaring prices and the threat of widespread blackouts. The Australian Energy Market Operator said it had \u0022suspended the spot market\u0022 for electricity in \u0022all regio

SYDNEY: Australia's energy regulator seized control of the national power grid on Wednesday , suspending a market-based system roiled by soaring prices and the threat of widespread blackouts.

But the market has been thrown into turmoil by a series of supply and demand shocks, and the regulator is now stepping in to set prices and marshal distribution. The supply issues have been exacerbated by a cold snap across the east coast, prompting calls from electricity providers for households to conserve energy.

Write Comment

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:

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Explainer: What led to the US stock market rout and how will it affect Asian markets?SINGAPORE — The S&P 500 confirmed on Monday (June 14) that it had entered bear market territory after the benchmark index fell for four days straight.
Source: TODAYonline - 🏆 1. / 99 Read more »