Lucky country's energy riches turning into a curse

Sydney

WITH its abundance of mineral wealth and sun-kissed shores, Australia takes pride in thinking of itself as the "lucky country". That sounds good until you consider the full quote from which the phrase is derived - a warning that this natural endowment was being squandered by the second-rate way the nation is governed.

Politics lies at the heart of Australia's current energy paradox: How can one of the world's largest exporters be having trouble keeping its lights on?

The National Electricity Market, whose grid covers a…