Subscribers and people who can get around the paywall at The Australian can read about the boss of the AEMO calling for new market rules and strategic reserves to reduce load shedding and the risk of blackouts.
Ms Zibelman repeated calls for changes to Australia’s rules to create a “day-ahead” market that would require generators to guarantee fixed supply and pay to acquire it if they were unable to supply it. The proposal is the latest in a series of moves by AEMO to insure the market against the risk of blackouts and load shedding, a risk that has been rising with the increased outages at ageing coal-fired plants.
She has previously called — unsuccessfully — for the creation of a strategic reserve that could be drawn on when prices were high or supply was low, and for longer-dated purchases of emergency reserves than those allowed under national electricity market rules.
Ms Zibelman said the lack of such powers forced the AEMO to intervene in the market in the short term and at a much higher cost.
This muddle-headed wombat is confused. What sort of rules and what sort of reserves? Stored power? Spare capacity? There is effectively no storage and at the peak there is no spare capacity.
This looks like the handwaving and gestures of a magician to distract you from seeing the attendant putting the rabbit in his hat or whatever the trick is. What is the trick with strategic reserves of power?
I suppose the trick is to distract people from the reason why we have lost the coal-fired capacity that used to be the strategic reserve.