Australian power supply improving but still volatile - market operator

"AEMO can confirm that electricity reserves for today and tomorrow morning have improved, but conditions remain volatile in the National Electricity Market," the Australian Energy Market Operator (AEMO) said in a statement. The market operator last week capped wholesale prices and took control over power supply after days of chaotic trade as around 25% of the market's coal-fired generators were off line due to planned and unplanned outages, which drove up demand for gas-fired generation just as a cold snap stoked demand for gas for heating.

Australia's power supply and demand balance has improved as more coal-fired plants have come back online and demand has eased as an Antarctic blast has passed, the country's energy market operator said on Monday. "AEMO can confirm that electricity reserves for today and tomorrow morning have improved, but conditions remain volatile in the National Electricity Market," the Australian Energy Market Operator (AEMO) said in a statement.

The market operator last week capped wholesale prices and took control over power supply after days of chaotic trade as around 25% of the market's coal-fired generators were off line due to planned and unplanned outages, which drove up demand for gas-fired generation just as a cold snap stoked demand for gas for heating. It said on Monday the market remained suspended as it was still having to manually direct a large number of generators to supply power to the market at the capped prices.

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