The electricity market is such a mare's nest of stuff-ups and problems it's impossible to see the deeply divided Turnbull government making much progress in fixing it.
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| The gas industry has built massive export facilities in north Queensland. |
The goals of halting runaway power prices and reducing the risk of summer blackouts wouldn't be quite so daunting, for instance, were it not for the third goal of "sustainability" – the euphemism you use when you can't say "climate change”.
It's tempting to focus on the first two and forget the third, but even that wouldn't work because the inescapable reality of climate change means that, until the Turnbull government ends the "policy uncertainty" about its treatment of fossil fuels relative to renewables, it's unlikely to get sufficient investment in new production capacity to keep prices controlled.
Even if Turnbull were to patch together some weakened version of an (already toned down) clean energy target, that wouldn't do the trick if it failed to win the endorsement of the alternative government.
Read the story by Ross Gittins on The Sydney Morning Herald - “Everyone has a different excuse for the electricity stuff-up.”
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