The NEM is facing unprecedented challenges dealing with the influx of new technologies and there are few international precedents to draw on. So we face an existential question; are our governing institutions up to the task?
In this article IES’s CEO, Hugh Bannister, takes a look at the challenges facing the institutions that are involved in managing or oversighting the NEM. He argues that it’s time for the industry to open up and be more proactive in prototyping and trialling new market concepts, including at the distribution end. ARENA’s remit is currently too limited. The aim is for the industry to become more agile in practice as well as in word. Failing that, the future NEM looks likely to be centrally controlled, highly regulated, inflexible and expensive.