17/06/2022
Australia's east coast power crisis - How did it happen?
It's been the perfect storm: thanks to the ageing coal generators going offline for maintenance, spiking gas prices due to the Ukraine war, the sudden cold weather snap on top of usual winter demand combined with the price cap imposed by AEMO on power generators leading to generators withdrawing their supplies as the cap couldn't cover their costs were able to contribute to the current power crisis happening in the east coast. The current privatized energy market failed, maybe it's time for the government to step in in controlling the energy market in the future?
https://www.abc.net.au/news/2022-06-16/electricity-market-suspended-amid-record-power-prices/101156530