Queenslanders and New South Welshpeople have been urged to “turn off unused appliances” to avoid blackouts as supply to the electricity system became perilously low. The state got through it without load shedding, but it’s not over with Queensland and NSW looking at possible blackouts today after a cold snap pushes demand to record highs, prompting regulators to impose price controls for the first time. That saw the Australian Energy Market Operator instruct some power plant owners to fire up after they stopped producing electricity when the $300/megawatt-hour price cap was imposed in Queensland on Sunday night. At that price, many producers are unprofitable, given high coal and gas prices, but they can get compensation from the government. Power company execs say they will do their bit to keep the lights on, but analysts say the sector is in a crisis that will be difficult to fix in the short term. “It’s bonkers,” said one.