Publicly-owned energy company Genesis Energy says energy market players are still shy about considering long term hedge contracts to avoid potential price spikes.
The electricity generator and retailer plans to shut down one of the four units of its Huntly thermal power plant by the end of 2013, and another one in 2014.
Genesis chief executive Albert Brantley says it's still seeking commercial hedge arrangements for Huntly to ensure its continuation.
Mr Brantley says the furore over March's high prices which prompted the Electricity Authority to reset prices downwards has not changed things much.
He says Genesis does not believe the market is currently prepared to pay the cost to keep those units available, so as a commercially prudent operator it has no option but to proceed with its closure plans.
