Archived publication for 2002
The Parer report was fundamentally about the electricity market. Gas and to an even greater extent environment and regional issues were tacked on.
Private ownership uses the same insights that Chadwick discovered two centuries ago. It is based on incentives and, harnessed with competition to meet market needs, is the most powerful means of promoting efficiency and high living standards.
The electricity and gas markets are fundamentally commodity markets. But they differ from other commodity markets in two major respects.
A Speech to the Utilicon TasPower Conference
Concerns have been expressed around the world that the newly opened electricity markets have failed to be sufficiently competitive.
Opening up electricity and gas markets to competition forces retailers to seek better ways of meeting the needs of customers more cheaply and ensures that cross subsidies are made known.