ReAmped Energy chief executive says he would rather people were ‘getting better deals’ amid soaring wholesale prices
“This could get nastier than it already is,” Tony Wood, a senior energy analyst at the Grattan Institute, said. Retailers and some large industrial users who had been buying from the spot market or who had only limited hedging strategies “would be in deep shit”.
“When we’ve had blackouts as we did in South Australia in 2016, and then we had brownouts or rolling blackouts in Victoria in 2017, it was the state governments who really were in the firing line,” Wood said.Sign up to receive an email with the top stories from Guardian Australia every morning In Sydney, Aemo has also had to intervene to set a clearing price for gas for four weeks in the wake of Weston’s departure. Since that price was “significantly lower” than spot prices at other gas trading hubs a day, the quantity of gas available in the city had also fallen sharply.
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