AUSTRALIA faces a challenge in providing cheaper, cleaner and consistent electricity.
There are two alternative approaches.
One is the Coalition’s plan for a balanced energy mix.
This includes renewables, gas and zero-emissions nuclear energy replacing coal as it retires from the system.
The other is Labor’s ‘renewables only’ plan. This relies almost exclusively on wind and solar technology and effectively puts all our eggs in one basket.
Labor has already shown that it has miscalculated the cost of its plan.
Before the last election, Mr Albanese promised that Australian household power bills would reduce by $275.
Since then the average cost of electricity has increased by 31% (without rebates). Gas is up 34%.
The government is now trying to manipulate inflation with temporary electricity rebates.
However, these are financially unsustainable. Once they end next year, inflation will spike.
A new report by independent energy experts, Frontier Economics, shows under Labor’s approach, these price rises are just the beginning.
It shows that by 2050, Labor’s plan will cost Australians at least $642 billion.
This cost is more than five times more expensive than Labor has previously claimed.
This report shows the Government’s plan conceals significant costs.
These include at least $62 billion in transmission costs, and large projects they treat as “sunk costs”, even though they still need to be paid for.
Labor has never been upfront about the cost of its plan.
However, Australians deserve to know. Residents of Forde deserve to know.
For more information about the reports findings, visit the LINK.
A subsequent report will be released comparing the cost of Labor’s plan, with the Coalition’s balanced energy mix, including zero-emissions nuclear energy.
For more information on our nuclear plan head HERE.
