The national electricity market is a failed 1990s experiment. A new government-owned body should take control of the power system
are obvious. The opportunity it presents is to end to the failed experiment of the national electricity market.Market Operator is now directing generators when to supply electricity. It’s also paying them lavish compensation for the financial shortfalls they suffer as a result.
Before the market began, each state operated its own electricity industry with only limited interconnection. Back then, electricity companies were publicly owned. Most were also fully integrated, with one company responsible for the entire electricity supply chain, from generation to distribution and billing.
The market was created just as the global need to reduce carbon emissions was being recognised. Despite this, the climate problem was not considered in the design of the market, which was based on a mix of coal and gas plants. Apartments in Sydney. Under the national electricity market, established about 25 years ago, consumer electricity prices have risen dramatically.The designers of the national electricity market hoped it would lead to better efficiency and more rational investment decisions. The market also aimed to lower consumer power bills and promote competitive retail offers tailored to individual needs. But none of this happened.
All this delayed the transition from an old and unreliable coal-based system to its necessary replacement by a combination of solar, wind and storage.
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