Australia imposed price caps on what electric generators could charge, canceled the spot-rate market. Now they are having blackouts as generators don't want to sell electricity at a loss.

submitted by iamonlyoneman from wattsupwiththat.com

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[–]iamonlyoneman[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

They are having blackouts at the beginning of winter, because the national policy bans nuclear (which they have scads of uranium in Australia) and heavily frowns on coal (they have loads of coal) and natural gas (they have loads of natural gas too) generation. The nation smiles at wind and solar, which predictably are falling on their faces when pressed into the role of baseload power generation.