Could it be that the Australian government has finally woken up to the fact that it has been conned by the electricity industry in this country -- at least for the past decade?

If it wanted to sum up its series of announcements over the past few weeks relating to network investment, yesterday’s announcement on the contracts for closure, and today’s release of the power of choice review, it could go something like this: "The degree of regulatory capture by the electricity industry was greater than even professor Ross Garnaut could have imagined. And we’re not going to stand for it any more."