Running for cover

Energy

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The effect of US energy firm Enron’s collapse late last year on Australia’s energy market ranges from catastrophic to negligible depending on who is talking. Some market observers point to a drastic fall in liquidity in the traded electricity market; others say there are other structural issues in the Australian market that have had a greater impact on the market, such as government arrangements between its own generators and retailers.

But most point out that, eight months on, it is

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