AEMC Commissioner Lana Stockman started as a civil engineer designing wooden sheds. She calculated loads, sketched joints, and watched structures take shape on paper. Then earthquake design taught her a humbling lesson: the equations worked until they didn’t.
During COVID lockdowns, Commissioner Stockman decided to study psychology. She wanted to understand why people make decisions that seem irrational under pressure. That psychology degree now influences how Australia’s energy regulator designs policies for millions of consumers.
Her journey from engineering to finance to psychology reveals why the AEMC increasingly relies on academic research partnerships. Energy policy requires insights from multiple disciplines, and Commissioner Stockman’s recent speech at the State of Energy Research Conference explained how universities are helping solve Australia’s energy transition challenges.
Commissioner Stockman learned early that engineering solutions require someone to fund them. Studying finance taught her about risk, investment, and how infrastructure projects actually get built. Those skills proved essential when regulating electricity markets where billions of dollars in investment decisions hinge on policy choices.
But finance spreadsheets don’t explain why consumers behave differently than economic models predict. Psychology research during the pandemic revealed how stress affects decision-making and why people choose certain energy plans even when better options exist.
“Sound policy design must reflect not only what people should do but also why they actually do it.” – Commissioner Lana Stockman
This insight now shapes how the AEMC approaches policy development. The regulator’s pricing review incorporates behavioural economics and equity frameworks. Instead of assuming consumers make rational choices, policies account for how people actually behave when choosing energy plans.
Academic research influences AEMC decisions in concrete ways. Monash University research on energy storage helped Commissioner Stockman understand wholesale market design challenges. Griffith University shared 80 years of weather data that reframed how the AEMC thinks about extreme weather risks.
The AEMC’s Price Trends report now includes academic work on hedging strategies in electricity markets. This research helps explain how businesses can reduce energy costs through better risk management.
The AEMC signed a formal partnership with Monash University’s Energy Institute, focusing on wholesale markets, resilience, and system design. Commissioner Stockman wants more universities involved in policy development through several programs:
The AEMC’s research agenda focuses on areas that directly impact business energy costs and operations. Consumer energy resources research examines how rooftop solar, batteries, and electric vehicles change demand patterns and what pricing structures work best.
Gas transition research tackles the complex challenge of reducing gas use while maintaining electricity system reliability. This work affects businesses using gas or planning to electrify operations.
Network regulation research addresses how electricity grids adapt to changing demand patterns and new technologies. As more businesses install solar and batteries, networks need different investment and pricing approaches.
Future market design research explores new ways to buy and sell electricity services, including reliability and flexibility services. This work could create new revenue opportunities for businesses with flexible energy use.
Research-informed policy development takes time but produces better outcomes. Our energy managers help businesses understand these policy changes and identify new opportunities as markets evolve.
Commissioner Stockman’s multidisciplinary background reflects the complexity of modern energy policy challenges. Weather-dependent renewable energy creates new risks that require sophisticated management. Consumer behaviour affects how well policies work in practice. Investment decisions depend on regulatory certainty spanning decades.
The AEMC’s collaborative approach acknowledges that no single organisation has all the necessary expertise. Academic partnerships bring rigorous analysis to complex problems while helping researchers understand real-world policy constraints.
For businesses developing comprehensive energy strategies, this research-based approach should lead to more practical regulations and better-designed market mechanisms.
Commissioner Stockman ended her speech with a Māori proverb: “With your food basket and my food basket, the people will thrive.” The message applies directly to energy policy: pooling knowledge and expertise produces better outcomes than any single approach.
Based on Commissioner Lana Stockman’s keynote address at the State of Energy Research Conference 2025. Read the full speech.
We monitor regulatory developments to help Australian businesses navigate energy market evolution.
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