Days of power shortages across the country have prompted the Australian Energy Market Operator (AEMO) to intervene in a desperate bid to shore up the country's power supply.
For the first time ever, AEMO suspended the spot market for wholesale electricity across the entire country.
It says this is the best way to "ensure a reliable supply of electricity" in what it called a challenging time.
But what exactly is the spot market?
Australia works on what's called the National Electricity Market.
It's where generators (power stations) sell power at wholesale rates to retailers like Origin or Ergon. Retailers then sell the power they buy to households and businesses.
To ensure our lights stay on, the amount of electricity being sold on the market must match the amount of electricity needed by households and businesses. AEMO oversees this.
Some power is sold according to pre-determined contracts.
The rest is bought and sold on what is called the spot market.
The spot price is the cost of wholesale power at any single point in time. It changes throughout the day depending on the demand and is typically most expensive in the mid-afternoon and the evening, when households and businesses are using the most power.
"Suspending the spot market" means that instead of power being sold for a changeable spot price, it's sold for a fixed price determined by AEMO.
How did this happen?
Basically, due to a perfect storm in Australia's power sector.
Rising prices of gas and coal and a series of unplanned power station outages saw the wholesale price of power skyrocket last week.
In response to this, AEMO set a price cap on the spot market.
Because of the price cap, power generators stopped producing as much power because they weren't making enough money from it.
That lead to a lack of supply in the energy market – and triggered the blackout warnings we've seen this week.
To keep power flowing, AEMO has repeatedly ordered generators to produce enough electricity
But CEO Daniel Westerman said: "It was impossible to operate the system under current conditions while ensuring reliable, secure supply of electricity to Australian homes and businesses."
What does all this mean for consumers?
Hopefully, that we can stop worrying about blackouts.
AEMO's plan is for this to put an end to the power rollercoaster that Australia's been facing this week and ensure a "reliable supply of electricity … for homes and businesses".
For as long as the spot market is suspended, AEMO will set the wholesale price of electricity at a level it deems fair for everyone.
It'll even compensate "eligible" power generators for producing power over that time.
"We are creating a simple process where AEMO has true visibility of which generators are available and when in advance, rather than relying on last-minute interventions," Mr Westerman said.
So will my power bill get more expensive?
Probably. But not because the spot market's been suspended.
The whole point of this is to ensure everyone gets a fair go.
The price caps that came into effect on Sunday tried to limit the spot price of electricity and therefore the everyday person's power bill.
Now, AEMO is trying to ensure that power generators can keep running without incurring massive losses.
But the reality is that power is becoming more expensive to make because coal and gas are becoming more expensive to buy.
According to the Australian Energy Market Commission, the wholesale price of electricity comprises about 30-40 per cent of a household's power bill.
So increased wholesale prices will be passed on.
