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Jun 22 2022

AEC says the lifting of market suspension is the right move

The peak body for power generators and retailers, the Australian Energy Council says the lifting of the suspension of the National Electricity Market is a welcome announcement. 

AEC Chief Executive, Sarah McNamara said, “The staged return of the market announced by the Australian Energy Market Operator is a positive step forward.”   

“It will give generators confidence to bid into the market under more normal bidding and dispatch conditions.” 

“Importantly, the market will restart without the administered price cap in place, which as the AEC noted last week, proved counter-productive by interfering with the market’s ability to ration limited fuel supply.  

“Our members will continue to work closely with AEMO, as they always do.

“While fuel supplies remain tight, almost 4000 MW of generation capacity has come back online from outages, thanks to the hard work of people at power plants,” said Ms McNamara. 

“Whilst no power system operates without risk, the community should be reassured the worst of the supply issues that affected the market in recent weeks are behind us for now.” 

 

About the Australian Energy Council 

The Australian Energy Council is the peak industry body for electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. AEC members generate and sell energy to 10 million homes and businesses and are major investors in renewable energy generation. The AEC supports reaching net-zero by 2050 as well as a 55 per cent emissions reduction target by 2035 and is committed to delivering the energy transition for the benefit of consumers. 

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