This is stupid, you are literally ignoring every experiment in socialism if you think trusting a bureaucratic organisation is worthwhile.
I suggest you read something from Nassim Taleb so you can understand why skin in the game is important. It's human nature, that is the common denominator, modern bureaucrats are like bankers, they want to take huge risk with very little direct impact to themselves if they make a mistake.
You cannot seriously be so naive not to see a problem with these incentive structures. I don't even need to argue with you about how well qualified the people at AEMO are, the incentive structures are wrong, so the everything else is irrelevant.
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