The east coast energy market suspension will be lifted with authorities confident in the return of wholesale electricity supply after a shortage one week ago.
Stream your news live & on demand with Flash for $8/month and no lock in contracts. New to Flash? Try 1 month free. Offer ends 31 October, 2022 AEMO Chief Executive Daniel Westerman said the energy market would begin to set the price from 4am on Thursday where authorities will monitor it for 24 hours before a decision on the lift to the market, provided there is supply guarantee.
AEMO CEO Daniel Westerman said steps will be taken to ensure the issue does not happen again in the future. Picture: NCA NewsWire / Nicki Connolly He argued it required"constant management" but the issues leading up to the intervention was"multi-faceted".Mr Westerman echoed the remarks from Mr Bowen, saying the long-term plan is to move to renewables to prevent"international price shocks".
Is only the spot market. All homes and 90pc of businesses lock in on long term forward contracts. The 10pc of businesses the choose to play the spot market take a gamble. This has been a massively ill-informed beat up.
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