Electricity generators have been labelled 'greedy' and 'opportunistic' by a small power company, in a blistering attack on the industry.
Electricity generators have been labelled "greedy" and "opportunistic" by a small power company, in a blistering attack on the industry.Gas-fired power plants have filled the gap left behind by offline coal-fired power stations, causing prices to spike due to high international gas pricesSmall electricity retailers say they are being squeezed out of the market
Power plants — such as coal-fired and gas-fired generators — sell electricity into the wholesale market.suspended the normal operations of the wholesale marketInstead, generators will be paid a pre-determined price and can be compensated if that price does not cover their costs.Smaller retailers were largely at the mercy of soaring markets, and have been acutely impacted.
"We have had significant peaks in electricity wholesale prices before," Victoria University researcher Kelly Burns said. Retailers pay for wholesale electricity daily, which at recent high prices is significantly denting their cash reserves.
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