Cost of living unlikely to ease quickly, says Government

After the extraordinary move by Australia's energy operator to suspend the electricity market last week, AEMO has flagged the suspension could soon be lifted.

Federal Treasurer Jim Chalmers has warned the government won't tolerate reports some companies could be taking advantage of the market Source: AAP

Highlights

• The ACCC will examine whether big power generators have been colluding and if they withdrew supply into the market last week.
• The government hopes to secure Australia's struggling grid by overhauling the current system with a new Electricity Capacity Mechanism.
• The government is looking into introducing more renewable energy.

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After the extraordinary move by Australia's energy operator to suspend the electricity market last week, AEMO has flagged the suspension could soon be lifted.

SBS Filipino

22/06/202206:22

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The spot market could be re-instated if certain criteria are met, and there would still be a 24-hour period of monitoring before a decision is made.

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