The electricity market operator takes the extraordinary step of suspending the spot market for wholesale electricity.
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.
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