Here’s [1] a report from the early days of electricity privatisation in NSW. In all honesty it’s been about a decade since I have read it closely but I would sa

Here’s [1] a report from the early days of electricity privatisation in NSW. In all honesty it’s been about a decade since I have read it closely but I would say it’s fairly serious and it does like efficiency as a metric. Underproductive though is certainly simpler but my understanding is that it was inefficient because the asset owner charging an equilibrium price should in theory lead to higher overall production (obviously lack of competition hurts this). [1] https://www.parliament.nsw.gov.au/researchpapers/Documents/electricity-and-privatisation/ElectandPriv.pdf https://www.parliament.nsw.gov.au/researchpapers/Documents/e...