Electricity futures suddenly pop

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I will track these prices regularly. Although the Albanese Government has won the recent round of energy warfare, the gas cartel and coal robber barons are only playing dead.

NEM prices popped yesterday as the wind stopped blowing in the south:

More intriguingly, electricity futures are back above $100MW/h. I have no explanation for this. Even if Australia finds itself short of energy owing to coal plant closures, or cartel balderdash, the fallout will in the blackouts not price hikes, so long as fuel prices are capped:

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.