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GRC Professional : GRC Autumn 2012
15 “a lot of the energy infrastructure was built 40 or 50 years ago when nobody had air-conditioners but now most houses have a least one unit,” amos says. “and when people decide to use them all at the same time in addition to other appl iance s, i ncluding ent er t ai nment equipment in our larg er house s, our sy stem s need to cope.” Challenges within the australian energy sector are somewhat unique and the industry needs need to develop innovative and unique solutions, amos says. “We have to transport large volumes of gas and electricity over very long distances. this distinguishes us from other similar economies, such as hong Kong and singapore and new Zealand where distance, climate extremes and population density are not so much of a problem.” Paine says new Zealand is in the “luxurious position” of having a single regulatory regime because there are no states. “so things are probably a little bit easier for them,” he says. “i think australia has always looked to the uK in moving to more of a risk-based, self-regulating environment. and we’ve done that relatively well.” ••• Western Australia’s bushfires Wooden power poles are blamed for creating some of the bushfires. A WA Parliamentary inquiry into the bushfires will have major implications for the design and operation of electricity infrastructure in WA. Risk management will play a major role in this work. Announcement that three electricity distributors in NSW will merge “ Nobody is really sure yet what that will mean as the announcement was only made recently – but we’re working on it,” saysAmos. 2011–2012 2012 Additional resources TodownloadthefullPwC report on how energy companies can improve global business performance by better managing political risk, visit www.pwc.com and search for ‘How energy companies can improve global business performance by better managing political risk’.
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