Australian govt’s own study shows that renewable energy keeps power prices down
Power prices to go up if renewable energy goes down SBS World News If the fossil fuel power companies and the Federal Government succeed in tipping the energy market away from renewable energy, household power bills could be about to skyrocket. By Dugald Murray, Australian Conservation Foundation 25 JUN 2014 – “….Billions spent needlessly upgrading poles and wires has led to steep rises in bills. Add to that increasing gas prices and the (modest) carbon price and it’s easy to see why two million Australian homes have some form of solar power.
But if the fossil fuel power companies and the Federal Government succeed in tipping the energy market away from renewable energy, household power bills could be about to skyrocket.
Over a decade ago, John Howard introduced a mandatory renewable energy target. Howard’s vision was good but his target woeful. Thankfully that target was increased from 2 to 20 per cent.
Despite Treasurer Joe Hockey’s dislike of wind power – he recently called wind turbines ‘utterly offensive’ – for a country like Australia, renewables make sense.
| Untapped potential
According to the Department of Resources, Energy and Tourism, Geoscience Australia and the Australian Bureau of Agricultural and Resource Economics and Sciences we have the highest average solar radiation per square metre of any continent, our wind supply is among the best in the world and our wave and tidal potential is world-class. The Abbott Government’s distaste for renewable energy sits in stark contrast to Howard, and is bad news for families. Take the renewable energy away and our power bills are going to skyrocket. According to the Government’s own modeling households will be worse off if the renewable energy target is lowered or removed. By the way the Government’s modeling is consistent with the findings of five other, independent energy market modeling experts (ROAM Consulting, Sinclair Knight Merz, Intelligent Energy Systems, Schneider Electric and Bloomberg New Energy Finance). In fact removing the current requirement that 20 per cent of our national electricity comes from renewable sources would see the average family in NSW pay more for on their electricity bill per year than the entire cost associated with the carbon price…….. It makes so little sense, in fact, that the question must be asked? Why is the Government so intent on scraping the renewable power that keeps power prices down? Dugald Murray is the chief economist at the Australian Conservation Foundation, Australia’s leading national environment group. http://www.sbs.com.au/news/article/2014/06/25/comment-power-prices-go-if-renewable-energy-goes-down |
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