Electricity privatisation in Australia: A record of failure (updated with link)
That’s the title of a report I’m releasing at Parliament House in Brisbane today, commissioned by the Victorian branch of the Electrical Trades Union. It’s essentially a synthesis of 20 years of work on this topic, going back to my book Great Expectations: Microeconomic Reform and Australia and including case studies of the various states where privatisation proposals have been put forward, with varying results. As well as privatisation, I look at the related market reform process which gave rise to the National Electricity Market. I view the reforms as having been fundamentally misconceived, relying on prices to perform a range of incompatible functions, while leaving retail prices largely unrelated to the actual cost of electricity generation and distribution.
Here’s a link to the report