- Despite there being sufficient physical generation capacity in Queensland today, AEMO is taking steps to address a critical electricity supply shortfall presently forecast for 6pm to 8pm (AEST) today.
- Yesterday (12 June), electricity prices in Queensland reached a cumulative high price threshold of $1,359,100 (accumulated over seven days), triggering an administered price cap of $300/MWh under the National Electricity Law and the National Electricity Rules.
- As a consequence, available offers from generators reduced, contributing to a forecast supply shortfall.
- To maintain power system security and reliability, AEMO is using its powers under the National Electricity Rules, including to direct generators, to alleviate lack of reserve conditions.
- At this stage, these efforts have provided sufficient generation to cover the lack of reserve 3 shortfall.
- The cumulative high price threshold is forecast to be exceeded in some other NEM regions this evening.
- AEMO will continue to monitor reserve conditions closely in Queensland, and more broadly across the NEM, providing further updates should conditions change.
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AEMO manages the day-to-day operations of a number of electricity and gas markets and information services, as well as providing strategic forecasting and planning advice.
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AEMO has strategic partnerships with institutions and energy brands across Australia and globally, including the Bureau of Meteorology (BOM) and CSIRO.
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In addition to regular consultations, AEMO runs regular working groups and forums that allow energy stakeholders to discuss issues and share information.
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The Library captures procedures, guides and major reports that live elsewhere on the site.
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Australia’s energy system has a governance structure that includes AEMO, the Australian Energy Regulator (AER), the Australian Energy Market Commission (AEMC), the Energy Security Board (ESB) and the Council of Australian Governments (COAG) Energy Council.
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AEMO is an independent organisation that operates on a user-pays cost-recovery basis, with all operating costs recovered through fees paid by industry participants. Our ownership is shared between government and industry.
