Electricity demand is falling, yet prices are still rising. Traditional generators are in trouble and the future of renewable energy is highly uncertain. Gas prices are increasing sharply and flowing through to businesses and households. And uncertainty on climate change policy completes a perfect storm for consumers and suppliers alike. Based on recent and current Grattan Institute research and analysis, this presentation and discussion brought together the key drivers that are behind a very messy story and assessed where things are likely to go from here.