Power companies accused of ‘unconscionable conduct’ as they withdraw from grid | micksfoley
Power generators are exploiting the chaotic energy market by withdrawing power supply from the electricity grid, forcing the energy market operator to direct them to fire their plants back up and triggering profitable compensation payments.
But the electricity market is tightly regulated and the Australian Energy Market Operator has powers, designed to prevent blackouts, which enable it to force generators to fire up units and start supplying electricity to the grid. Whenever it does this, companies are awarded compensation. Asked on Tuesday if power companies were gaming the system, federal Energy Minister Chris Bowen said the compliance regulator was monitoring the situation “very, very closely”.
“I have been in contact with [the Australian Energy Market Operator] and they are confident the situation can be and will be avoided in NSW and Victoria in particular in coming days,” Bowen said on Tuesday. “Nobody should turn off any power usage that they need for their comfort or their safety ... nobody is asking for that to happen.”
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