Energy market is a crash everyone saw coming, but did nothing to stop

  • 📰 theage
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 77%

Business News News

Business Business Latest News,Business Business Headlines

The market suspension is about more than cold weather and power station maintenance - it is about a disgraceful failure in Australian politics. | David Crowe | ANALYSIS auspol energymarket

Australians are witnessing a sudden collapse that has taken years of sluggish incompetence to bring the nation’s energy market to a halt.

After years of slow failure in plain sight, the Australian energy system has hit the wall. This is a moment like the collision at the end of a slow-motion crash test video when the car crumples under pressure. Anyone watching could see the jolt coming for the crash test dummies.But this is no test: Australian customers are in the passenger seats. This is a live experiment with an electricity market that is no longer up to the essential task of serving households and businesses.

The immediate issue is the inability of the national electricity market, created in 1998, to handle the pressures that have inevitably followed the absence of a settled agreement at the political level.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Another disgraceful legacy by the LNP. Perhaps the Murdoch media like theage can stop propping this party up like they have been for the past few years. You enable them to get away with rubbish like this. Do better.

Just as well most people have petrol cars.

Which you guys enabled. Your reporting on issues over the last few years has been disgraceful now I see your posts and all I think about is you need to be defund by the people. No credibility left. So glad independent journalist are working for us.

Great job Angus. Well done.

A disgrace. Time to talk alternatives, including nuclear power.

'Everyone' - who really is that? -knew but said and did nothing! The previous government, the press , the 'think' tanks...how is that for a few 'someones'?

Can't keep closing baseload power stations without opening new ones. Successive governments green-focused regulations and policies have made it virtually impossible for anyone to invest in new baseload power. The Age is just as culpable for lobbying for this exact agenda.

That being renewables

feral Fedeal LNP...

The short version is it’s the lnp fault, 9 years of constant ignoring the problem, and now the media are trying to blame a 3 week old government. Smacks of stupidity. Labor, the Greens and Teals aren’t to blame

troyevillelolly Load shedding next?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in BUSİNESS

Business Business Latest News, Business Business Headlines