Someone tell Bowen that it’s total power costs that matter, not wholesale
Advertisement
Recall that Labor promised before the 2022 federal election to reduce average household electricity bills by $275 by 2025.
This modelling was subsequently used as the basis of Labor’s fantastical 82% renewable energy target (RET), which became the foundation for the fanciful CSIRO GenCost Report and AEMO’s Integrated System Plan.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Advertisement