Anonymous ID: 58db1e Aug. 10, 2022, 10:30 a.m. No.17345749   🗄️.is 🔗kun   >>6343

Prime Minister says gas generators were 'gaming' the energy crisis and threatening supply

 

The Prime Minister Anthony Albanese has accused gas generators of "gaming" the system, taking advantage of the energy crisis and forcing an unprecedented intervention by the market operator.

Key points:

 

The Prime Minister has accused gas companies of gaming the system

He says the market rules provide a disincentive for generators to operate in a crisis

The WA Premier says the east coast needs a gas reservation mechanism

 

Some generators withdrew from the market this week, after soaring power prices were capped, and were then compensated by the market operator when directed to pump power into the network.

 

The Australian Energy Market Operator announced it was taking over the energy market on Wednesday, after it said the market was failing to operate.

 

Mr Albanese said there's a disincentive built into the power market for generators to operate properly.

 

"There was a bit of gaming going on of the system, which is why AEMO used its tools at its disposal to intervene, so we do have these short-term issues," he said.

 

The new Prime Minister has already flagged he will seek to rewrite the rules on how the energy market operates to prevent a situation in the future where gas generators would hold back on supply as they wait for the compensation trigger.

 

https://www.abc.net.au/news/2022-06-17/prime-minister-says-gas-generators-gamed-crisis/101160492