To fix broken electricity markets, stop promoting the wrong kind of competition

By Richard Meade, Adjunct Associate Professor, Centre for Applied Energy Economics and Policy Research, Griffith University

Competition is seen as a panacea in electricity markets: if only we had more, prices would be lower, and investment and supply security would be higher.

Politicians love this story because it offers respite when electricity prices rise. Just unleash regulators and competition authorities to “fix” competition barriers – problem solved (for now).

Encouraging retail competition becomes a priority. Consumers are slow to change retailers,…

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