I would have thought that the power generators had fixed supply contracts with coal mines, so that they were guaranteed supply at a known price. The mines shouldn't be able to simply withhold confirmed/contracted orders just so they can sell to a higher bidder. I know it's likely to be much more complicated than that, but it needs to get sorted out somehow. If retail prices move to 50 cents kWh there will be a lot of people struggling to pay the bills. The flow-on effects through the economy of significantly higher power and gas prices will cause another spike in inflation. The outlook is quite scary for a lot of people, I'd imagine.
ajw