Australian power crisis eases as coal-fired plants crank up [Reuters]
CLP HOLDINGS LTD S/ADR (CLPHY)
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Source: Reuters
recent weeks returned to service, but the market operator said the power crisis was not over. Slideshow ( 2 images ) “The Australian Energy Market Operator (AEMO) can confirm sufficient electricity supply can be made available to meet forecast demand over the weekend across all regions in the National Electricity Market,” the operator said in a statement. Australia's heavily populated east has faced a power crunch since mid-May as around 25% of the market's 23,000 MW of coal-fired capacity has been off line for maintenance or unplanned outages, exacerbated by coal supply disruptions and soaring global coal and gas prices. To staunch the crisis, the market operator on Wednesday took the unprecedented step of taking control over power supply and pricing by suspending the national electricity market. “Challenges remain in the energy sector and AEMO will continue to monitor supply levels and risks across all regions,” it said. Coal-fired generators have brought 1,900 megawatts
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