Power prices rise after companies use rivals’ outages to ‘profit maximise’, Australian regulator says

Outages at Origin Energy’s Eraring power station and Delta’s Vales Point facility contributed to a sharp rise in power prices in May.Outages at Origin Energy’s Eraring power station and Delta’s Vales Point facility contributed to a sharp rise in power prices in May.

The behaviour by AGL and EA was “quite a contrast with offer behaviour of the previous week”, the AER said. Wholesale power prices make up about a third of power bills, with retail and network costs making up the rest. An extended period of high wholesale prices could mean the latest

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