energy market power lines

The ACCC's report on the electricity market illustrates how, when the history of neoliberalism is written in Australia, the energy sector will be emblematic of both its successes and failures.

The report sees the essential causes of high electricity prices in recent years as market-dominant companies (including via vertical integration), an inadequate regulatory framework that has been gamed by participants, and product ranges and information designed to hinder rather than help consumer choice. To these structural problems have been added more recent, sector-specific issues: the lack of a coherent climate action policy for the last decade (due to the climate denialism of the Liberal and National parties, but the ACCC doesn't say that), the age of existing coal-fired power assets, gas exports and flawed subsidies for household solar.