Queensland’s energy supply crisis has triggered calls for an inquiry into the state’s surging electricity prices.
Wholesale prices leapt to a record $283 per megawatt-hour last month and are the highest in the nation.
Spot prices have also surged to $15,100/MWh eight times in Queensland in the last 12 months.
Generators were again selling electricity at that price on Sunday when the market operator capped prices at $300/MWh, triggering the current supply crisis.
Queensland Energy Minister Mick de Brenni says high international fossil fuel prices, winter demand and outages at public power plants have been driving up wholesale prices.
But the Australian Energy Regulator has indicated a fourth factor may be at play….