If Australia wants a reliable and affordable electricity grid, it needs to return it to public hands | John Quiggin

The national electricity market is a failed 1990s experiment. A new government-owned body should take control of the power systemA crisis, as the saying has it, combines danger and opportunity. The dangers of the current electricity crisis are obvious. The opportunity it presents is to end to the failed experiment of the national electricity market.Having suspended the market last week, the Australian Energy Market Operator (Aemo) is now directing generators when to supply electricity. It's also paying them lavish compensation for the financial shortfalls they suffer as a result. Continue reading...