POWER PRICES UNDER ANGUS TAYLOR

MARK BUTLER MP.
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2 months ago
POWER PRICES UNDER ANGUS TAYLOR
MARK BUTLER MP
The idea that power prices are going to come down is a triumph of hope over experience.

This Government has presided over record power price increases that have crippled household budgets and threatened the viability of businesses across the nation.

In just the 15 months since Angus Taylor became the Minister for ‘bringing power prices down’ wholesale power prices have skyrocketed by more than 20 per cent.

The AEMC today has predicted that wholesale power prices might come down by 7 per cent over the next three years, recovering maybe one-third of the increase seen already under Angus Taylor’s time as Minister.

In any event, the only reason for any modest price relief is the investment boom of renewable energy that occurred under Labor’s Renewable Energy Target – a policy Angus Taylor has consistently opposed.

But the construction of new renewable energy generation has been ground to a halt because of the Liberals energy policy paralysis.

According to the Clean Energy Council, renewable investment is down by over 60 per cent this year.

After seven years and 18 energy policies this Government has had no plan to support renewable energy investment needed to replace ageing and increasingly unreliable coal-fired power stations. 
Environment