Energy boss calls for calm, says the sector will sort out shortfall

Contact boss Mike Fuge said kneejerk reactions will make things worse. (Image: Contact)

Mon, 12 Aug 2024

Contact Energy’s boss has called for calm heads as the sector deals with an energy crunch causing extraordinarily high wholesale electricity prices.The power company's chief executive, Mike Fuge, said he knew businesses exposed to the wholesale spot price were “doing it tough”, but the sector was working on solutions that will emerge this week.'Solutions'Wholesale electricity prices have recently been consistently above $800 a megawatt-hour (MWh), with spikes above that. When prices were above $200MWh this year, it...

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