AEMO removes suspension, restores wholesale power markets in all Australian regions

The wholesale electricity market was suspend on 15 June after a loss of almost 5GW of capacity offer. Image: Neoen Solar

The Australian Energy Market Operator (AEMO) has lifted the wholesale power market suspension in all regions of the National Electricity Market (NEM) from 2pm today (AEST), after intervening more than a week ago.

The reduction of electricity shortfalls and fewer manual interventions from AEMO were among the reasons for a return to regular operations today.

On Wednesday 15 June, AEMO suspended the country’s spot market and issued direct interventions to 5GW of generation capacity the day before and set a AU$300/MWh (US$207.2/MWh) price cap in the states of Queensland, New South Wales, Victoria and South Australia after reaching the high price threshold.

Australia has been facing an increase of the electricity market price since the beginning of the year, which reached a level in Q1 2022 not seen since 2019, as well as winter conditions that have pushed up the demand for gas and electricity in many regions.

“The current energy challenge in eastern Australia is the result of several factors across the interconnected gas and electricity markets. This includes periods of high electricity demand, coupled with a large volume of generation unavailable due to maintenance or unplanned events, planned transmission outages and high energy commodity prices,” AEMO said.

After the victory of the Labor party in the country’s recent elections, the solar sector in Australia is poised to grow significantly after the incoming government vowed to turn Australia into a “renewables superpower” by increasing renewables investment and upgrading the country’s grid infrastructure.

Read Next

August 8, 2022
A introduction to Yingli Solar’s new YLM 3.0 Pro 415W module for both residential installations and commercial projects
August 5, 2022
Germany solar developer Wirsol Energy has received development approval for its Maryvale solar and energy storage project in New South Wales (NSW) by the NSW Department of Planning, Industry and Environment.
August 3, 2022
Last week, the Australian federal government proposed legislation that will lock-in Australia’s commitment to achieve net zero by 2050 as well as providing greater oversight and accountability over progress on climate change in a sharp departure from the previous administration.
PV Tech Premium
July 29, 2022
Sun Cable, the developer of an installation that bids to transmit renewable electricity from Australia to Singapore, will use proven technologies that have been deployed at projects around the world.
July 26, 2022
Australian renewables developer Genex Power has received an unsolicited takeover offer from two investment firms.
July 20, 2022
Clean energy investor Octopus Investments Australia has launched a AU$10 billion (US$6.9 billion) platform that will finance renewables assets and has already acquired Australia’s largest operational solar project.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 7, 2022
15:30 AEST (UTC +10)
Solar Media Events
September 14, 2022
Solar Media Events
October 4, 2022
New York, USA
Solar Media Events
October 11, 2022
Virtual event