Power companies accused of engineering crisis for profit

power companies

Compo claim Australia’s highly-regulated markets have created infinite opportunities for manipulation and even the government-owned Snowy Hydro has been accused of gaming the system. Power companies say their hands have been forced by perverse incentives. On Tuesday, the nation’s top energy regulator wrote to power generators to remind them of their legal obligations and to suggest they may have engineered recent shortfalls in order to access the compensation payments that companies receive under emergency shortfalls when the government can force them into business.

Source: Power companies accused of engineering crisis for profit

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