Sucked in by spurious claims of the loss of 99 per cent of all coral reefs, mounting natural disasters, a permanent drought in the Murray Darling, and illusions that fossil fuels are archaic, Labor is preparing to announce its energy policy.
Earlier this week, in a dummy run, Energy spokesman Mark Butler claimed, in the context of apparent public support for renewables, that we can up the government’s 23 per cent renewable energy share, which includes about eight per cent of (currently unsubsidised) hydro, to 50 per cent and also see electricity prices fall.
Bill Shorten is to formally launch the ALP “have our cake and eat it” policy on Thursday. This comes at a time when wholesale electricity prices for 2019 are around $95 per MWh, more than double prices just three years ago.
In claiming that its more intensive subsidy policies will lower overall electricity prices, the ALP platform is supported by the same confident predictions that have favoured existing renewable energy subsidies. Such predictions rest on modelling exercises by the main energy modellers, Jacobs, Deloittes, Frontier, Repu Tex, and ACiL. These presume that wind and solar generators, with a subsidy presently standing at $80 per MWh. Read more