Consumers will face higher energy bills after two of Australia’s biggest electricity generators used their market clout to push up wholesale power prices following unplanned outages at rival coal-fired plants, the Australian Energy Regulator says.
In a report released on Wednesday, the regulator examined what caused a “significant” price event on 8 May in New South Wales that triggered a key cumulative price threshold being exceeded for only the second time in the 26-year history of the national electricity market.
