A $60 billion black hole has torn through the Albanese Government\u2019s 2030 renewable energy plan exposing a Labor lie and leaving everyday Australians to pay the bill.<\/p>\n\n\n\n
A leading energy economist has revealed that more than $60 billion of mega energy projects, which Labor is seeking to build by 2030, are unaccounted for in Labor\u2019s logic despite its significant impact on the energy prices paid by households.<\/p>\n\n\n\n
The concerns arise through the GenCost study which evaluates the levelised cost of electricity for different energy generating technologies and provides the central justification for Labor\u2019s radical energy experiment.<\/p>\n\n\n\n
Shadow Minister for Climate Change and Energy Ted O\u2019Brien said Labor\u2019s Climate Change and Energy Minister had deliberately misrepresented the study to blind Australians of the true cost of Labor\u2019s plan.<\/p>\n\n\n\n
\u201cChris Bowen has buried a $60 billion black hole in Labor\u2019s radical energy experiment, and it will be everyday Australian households and businesses that pay the price,\u201d Mr O\u2019Brien said.<\/p>\n\n\n\n
\u201cIt\u2019s high time that Labor came clean with the Australian people and explained the true cost of its radical energy experiment.\u201d<\/p>\n\n\n\n
\u201cAustralians are paying some of the highest energy bills in the world despite false promises from Labor that it would cut household power bills by $275.\u201d<\/p>\n\n\n\n
The whopping $60 billion price tag was calculated by experienced economist, David Carland in a formal submission to the CSIRO and includes projects such as Snowy 2.0, Marinus Link, VNI West and the Battery of the Nation.<\/p>\n\n\n\n
The total figure is likely to be far larger with many more costs associated with household energy storage and distribution costs unknown.<\/p>\n\n\n\n
\u201cHow deep does this black hole go?\u201d Mr O\u2019Brien asks Labor\u2019s Climate Change and Energy Minister.<\/p>\n\n\n\n
\u201cLabor\u2019s energy pathway does not account for one cent of the enormous network integration costs and there are billions more to be uncovered.\u201d<\/p>\n\n\n\n
\u201cThe enormous network cost of connecting Australian homes with solar, wind or gas generators do not simply vanish because Labor wants it too. These costs are paid for by every single business and household in Australia through higher energy bills.\u201d<\/p>\n\n\n\n
In the open letter to the editor published in the Australian on 28 July, CSIROs Chief Economist Paul Graham stated the GenCost \u201creport does not provide the cumulative cost of all investments up to 2030\u201d and that \u201call existing generation, storage and transmission capacity up to 2030 is treated as sunk costs.\u201d<\/p>\n\n\n\n
The Coalition\u2019s energy spokesperson thanked CSIRO\u2019s Chief Economist for clarifying the details of the GenCost report and blasted Chris Bowen for lying to Australians about the true cost of its transition.<\/p>\n\n\n\n
\u201cLabor continues to tell Australians that a balance of technologies isn\u2019t needed, claiming renewables alone will deliver the cheapest form of energy but, it has not accounted for at least $60 billion of energy infrastructure to be built out through to 2030.\u201d<\/p>\n\n\n\n
\u201cWe need to replace Labor\u2019s dangerous ideology with a balanced \u2018All-of the Above\u2019 approach that allows for a mix of different technologies, including renewables.\u201d<\/p>\n\n\n\n
\u201cWhat really matters, and what Labor deliberately ignores, is the total system costs of energy because that\u2019s what hits people\u2019s power bills.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
A $60 billion black hole has torn through the Albanese Government\u2019s 2030 renewable energy plan exposing a Labor lie and leaving everyday Australians to pay the bill. A leading energy economist has revealed that more than $60 billion of mega energy projects, which Labor is seeking to build by 2030, are unaccounted for in Labor\u2019s … Continue reading “$60 billion black hole in Labor’s energy experiment”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22498","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/22498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=22498"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/22498\/revisions"}],"predecessor-version":[{"id":22499,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/22498\/revisions\/22499"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=22498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=22498"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=22498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}