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The Australian Energy Market Operator’s (AEMO) Integrated System Plan (ISP) is supposed to be a long-term roadmap for the National Electricity Market (NEM), outlining the least-cost pathway for generation, storage, and transmission to meet Australia’s energy needs and net zero emissions targets through 2050.
The problem is that the ISP is a fantasy document, chock-full of false assumptions and based on government policy, not physics, economics or energy reality.
The primary fantasy is that spending endless billions of dollars on transmission and subsidies will save consumers money, when the cost to consumers and taxpayers is immense and deliberately hidden.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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