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Bloomberg
Australia’s key power market suspended spot trading as it attempts to ease an electricity crunch that’s been worsened by some plants withholding supply after introduction of price caps.
The Australian Energy Market Operator said it was taking action after some generators failed to respond to requests to fire up shuttered units and help add more supply to country’s main grid.
Outages at coal-fired power plants, reduced renewable generation and a cold-weather snap have put Australia’s electricity network under major strain, triggering warnings over potential disruptions and prompting regulators to impose limits on prices.