It was never needed before. Jim Anderton and Helen Clark were keen on Ministerial Inquiries into industries that had no fundamental problems.
The Electricity Commission isn't needed, nor is an Electricity Market Authority.
My first step would be to choose another electricity SOE to privatise. Although whilst National has promised to sell nothing, there is no reason why it cannot issue shares in an electricity SOE watering down the shareholding. Similarly, shares could be distributed to everyone. Private owners, after all, demand better performance and seek to be more competitive than the state.
Lines companies should be allowed to retail electricity, as the recent review recommends.
So hopefully Cabinet will agree on modest steps to liberalise and get crony bureaucrats out of the way - and so the question will arise as to why the government owns the majority of the generation and retail market.