In releasing yet another report on electricity prices, ACCC chairman Rod Sims said that the energy market is ‘‘broken’’. What is needed is not a repair job on the whole electricity market but a clear decision on climate change policy.
The 35 per cent real increase in household electricity bills in the past decade is certainly a significant burden but the ACCC’s 398-page report, On restoring electricity affordability, part of a veritable reference library on the topic in the past few years, must not be allowed to muddy the water.
The electricity market basically works except Australia cannot establish how fast to cut its greenhouse gas emissions and make the transition from coal to renewables. Mr Sims’ vague language only encourages the usual suspects to claim that the solution to the problem is building more coal plants.
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