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Stillwater's 'relative' market power concept questioned in Australian appeal

By Saloni Sinha ( March 3, 2026, 08:43 GMT | Insight) -- An Australian Federal Court judge on Tuesday questioned Stillwater Pastoral’s argument that market power should be assessed on a relative basis in its appeal against electricity generators Stanwell and CS Energy, suggesting substantial market power must be evaluated as an absolute concept over time rather than through isolated pricing intervals. The comments came during the second day of a two-week appeal of a December 2024 ruling that found the state-owned generators did not breach misuse-of-market-power laws, with debate focusing on alleged “late rebidding” strategies in Queensland’s wholesale electricity market.Market power has traditionally been understood as an absolute concept, not a relative one, an Australian judge said Tuesday, pushing back on Stillwater Pastoral’s arguments in its antitrust appeal against electricity generators Stanwell and CS Energy....

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