/ 23 June 2022

The energy regulator steps back

Image source: Unsplash
Image source: Unsplash

After its dramatic/unprecedented seizing of control of the National Electricity Market last week to keep the lights on in east and southeast Oz, the Australian Energy Market Operator (AEMO) has started pulling back from this morning. AEMO stepped in over concerns that Queensland, Victoria, South Australia, NSW and the ACT were at risk of blackouts. That was down to skyrocketing global coal/gas prices and 30% of the grid’s output disappearing due to power plants going offline for maintenance and greater demand for electricity thanks to a cold snap. Now, regulators say things are heading in the right direction – enough to move towards letting the market rip – as long as supply is guaranteed. AEMO warns there could still be problems going forward but said it was “working very closely with generators” to ensure there’s enough power to keep the heater on and all your devices fully charged…

And would you look at that, our Squiz Shortcut out today is all about the energy crisis. We even explain that electricity isn’t created by magic, but some in Squiz HQ are still sceptical… 

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