Australian Energy Market Operator suspends wholesale power spot market to ensure reliability and avoid power outages

The Australian Energy Market Operator (AEMO) has taken the extraordinary step of suspending the spot market for wholesale power through the whole country.

The electricity sector has faced skyrocketing costs, forcing AEMO to cut prices and force producers to offer their services.

AEMO has now completely suspended the spot market for the National Electricity Market – which includes Queensland, Victoria, South Australia, NSW and the ACT – saying it is impossible to guarantee a reliable electricity supply under the current circumstances.

It is the first time the market has been suspended nationally and will be reviewed daily in each state.

AEMO CEO Daniel Westerman says suspending the market will simplify the functioning of the electricity market.

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