AEMO will formally end the suspension of the wholesale electricity spot market in all regions of the National Electricity Market (NEM) from 2pm today (AEST).
On Wednesday 15 June 2022, AEMO announced the suspension because a confluence of events has made it impossible to continue operating the spot market while ensuring a secure and reliable supply of electricity for consumers.
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.
Returning to regular operations of the NEM is now possible, as we are currently seeing more normal electricity bidding and dispatching through AEMO’s automated resources, along with reduced electricity shortfalls and fewer manual interventions needed by AEMO.
Earlier this week, AEMO briefed the industry and published the assessment criteria and staged process needed to resume normal spot market operation in the NEM.
AEMO expects conditions to remain dynamic in the short term once the suspension is lifted.
ENDS