I don't feel too left out—Professor Papineau has been very fascinating—but thank you for the question.
In terms of the overall electricity system, I think there is something to your question. If demand rapidly outpaces supply, then you're obviously going to see prices go up. Conversely, if you have a massive overbuild that needs to be clawed back from ratepayers, that still has to be paid for.
Electricity can be very efficient in the right circumstances. Heat pumps can be a great solution for many homes. Overall, the study we did on electricity showed how different the prices were across the country, and it's not only the current prices. What consumers take into account is their expected prices. Are they going to remain stable? Are they going to go down? Are they going to go up? If people have an expectation that they're going to go high in the future, that's obviously going to go into their decision-making.
A track record of stability and signalling, and perhaps contracts for the future, would help consumers make those decisions to know what their future trade-off between the various sources of electricity would be, because these are long-lived investments.