Turner, a union representative on the Hogg inquiry into the privatisation of electricity, says Pacific Power may still make money on the decision. A guaranteed contract for energy is a good one in the long term he says. It is an essential service that must be regulated and ownership is the best form of regulation. It gives price stability and consumer and environmental protection. And because electricity companies in NSW are government institutions they are conservatively run and add integrity to the market.
Electricity companies are significant employers in country and regional areas.
A national power grid took shape. Victoria and NSW split their monopolies into separate power generation, transmission and distribution companies. Prices for transmission and distribution were still set by regulation 1997 the Victorian and NSW markets were merged. Through national competition policy the national grid becomes the National Electricity Market.