Queensland’s trouble-plagued coal-fired power station Callide dropped off the electricity grid for three hours on Friday after its last remaining unit failed.
Maintenance work at an LNG freezer in Queensland and a sudden bout of warm winter weather in south-eastern Australia have combined to lower gas and electricity spot prices.
Victoria is relying on other states for electricity that often comes from gas even as new rules prevent the export of spot gas from the state to other regions, industry sources have complained.
The risk of crazy-high wholesale power prices has not gone away despite the restart of coal power units that mean the market suspension may end on Friday.