Suspension of Australia’s spot electricity lifted
Post date: 22/06/2022 - 17:11
Suspended on June 15, spot market electricity trading for the Australian states of Queensland, New South Wales, Victoria, South Australia and Tasmania – the National Electricity Market (NEM) grid interconnection – will reopen in stages from June 23. This was announced by the electricity and gas market regulator Australian Energy Market Operator (AEMO).
AEMO had ordered the market closure and placed pricing and control of production volumes under its own direction after the withdrawal of generation capacity in the NEM area destabilized the grid and caused numerous supply outages (we reported). In the meantime, however, »a clear improvement in market conditions« has been observed, AEMO announced. Therefore, in a first step, »we will allow the market to set the price again.« If the situation remains stable, the suspension will be lifted completely in a second step.