Warnings emerge that Australia’s energy transition is ‘out of control’ as the NSW market quietly collapses.

The head of one of Australia’s largest power retailers has warned that the country’s energy transition is spiraling out of control, citing a major market disruption in New South Wales as evidence of the instability.

During a week when NSW agreed to extend the life of the state’s largest coal plant, Alinta CEO Jeff Dimery pointed to significant market events earlier in the month to highlight the system’s distress.

The Australian Energy Market Operator had to intervene in the NSW market and cap wholesale prices between May 8 and 15 after a series of shocks caused costs to skyrocket.

This is believed to be only the second time the market operator has had to intervene in NSW, the first being during the energy crisis of 2022.