Grattan report shows market era is over for electricity: Bandt
Greens climate change and energy spokesperson Adam Bandt MP today said that the report released by The Grattan Institute shows the consequences of running the electricity grid like a stockmarket, instead of as a public good. Bandt called on the government to take immediate action to re-introduce regulated electricity prices and to support a Greens push to bring the electricity grid back into public hands.
“Electricity is an essential public service that is being run like a stockmarket,” said Mr Bandt.
“Instead of twiddling their thumbs while consumers get their power cut off, the government should adopt Greens policy and move to re-regulate electricity prices.
“The market era is over. Years of high prices and shoddy practises that deliver mega-profits to big power companies must come to an end. It’s time for the government to put its hands back on the wheel.
“By returning the grid to public hands, we can start repairing the damage that has been done to the electricity sector and run electricity as an essential service.
“Big companies ran out of chances a long time ago. The only way to fix the mess is to run electricity for the public good, rather than for profit.”
Media contact: Gideon Reisner, 0429 109 054