ELECTRICITY and gas prices are forecast to remain high for the foreseeable future after warnings of possible outages due to a shortfall in supply in recent days.
Yesterday, five states were warned of possible outages by the Australian Energy and Market Operator (AEMO), which manages the Australian Electricity Network. The shortfall was put down to a $300/megawatt hour cap AEMO put on suppliers, planned maintenance and a global shortage of gas.
Luckily, the grim predictions did not come to fruition after it directed companies to add supply to the market.
“These electricity shortfalls…
