Well one piece I read doesn't say just quite that, interesting times ahead with all this I would say.
The extraordinary move follows the equally unprecedented imposition of a price cap across all the mainland state grids on Monday and Tuesday, and the realisation that it would be impossible to manage because of the high cost of fossil fuel generation.The suspension means that AEMO’s role in ensuring the lights stay on will – hopefully – be less complicated.
Only one compensation regime, rather than two, will be in place, and generators will get paid the average price in their state over the past four weeks, meaning they are likely to get between $300/MWh and $500/MWh, rather than the flat rate of $300/MWh stipulated in the price cap.
AEMO believes this will be easier to manage.
All generators are expected to make themselves available – they can still seek further compensation if the money is not enough to cover their costs.
