Abstract
The Australian electricity sector has been radically restructured during the last decade. The drivers of this restructuring are sector-specific and public sector policies, and the broader macro policy approach of the Australian state. Using the analytical framework of French regulation theory, the paper discusses these drivers and the most significant outcomes arising: global integration; debt and derivatives; an uncompetitive market; high wages and high unionisation; and the political and financial gains for the state. The clear winners have been capital, the state and the neo-liberal agenda. Labour faces bleak prospects following job losses, real wages no longer outstripping productivity growth and further expected real increases in residential electricity prices.
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