PLEA Network

13 July 2016, Renew Economy, Coalition’s myth about renewables and high electricity prices. Fear of rising electricity prices has been one of the mainstays of the Coalition’s re-election campaign: any efforts to increase the share of renewable energy – as proposed by Labor or even more dramatically by The Greens – or impose some sort of carbon price would end up as a Great Big Electricity Tax. Environment minister Greg Hunt is still at it: “And let me say that equally, we are the only ones that can protect against the electricity price rises that the ALP wants,” he told Melbourne radio 3AW in an interview on Tuesday. So, it should probably be seen as something of an irony that in the week after the July 3 poll, wholesale electricity prices shot to their highest levels on record – in most states averaging nearly double the average price when the carbon tax was in place. The reason, most analysts agree, lies mostly with the soaring price of gas, which has also hit record levels due to the impact of the massive LNG export facilities, and supply blockages in Queensland. But the Coalition is not blameless. Apart from being a hugely enthusiastic supporter of the gas export industry, it brought large-scale renewable energy investment to a halt for three years. As we shall see below, if the estimated 4,500MW of large-scale wind and solar that could have been built in that period had been built, then Australia would likely be enjoying much cheaper wholesale electricity prices today. And while the Coalition has railed against the expense of new renewables, the Labor minority government that runs the Australian Capital Territory has quietly been going about its target of sourcing 100 per cent of its electricity needs from renewable energy by 2020. Read More here