Last week, a survey of energy sector chief executives exposed Labor’s energy failure.
This survey by the Australian Energy Council concludes: “Most CEOs expect energy prices to rise in the coming years…and feel energy affordability is at risk.”
It paints a confronting picture about the impact of higher prices on Australians and our economy.
It highlights risks to reliability and unworkability of Labor’s net zero target.
Here are just a few sample quotes from CEOs of energy retailers and generators:
“…we’re not on track to achieve net zero and renewable energy targets...”
“The infrastructure required to do the renewable transition is all far more expensive than anyone expected.”
“The cost of this hasn’t been openly discussed as well as the associated impacts on Australia’s economy.”
“The thing that keeps us awake is that we are going to potentially risk security of supply or system stability with the transition that’s slowly unrolling.”
“…the cost of this transition is really going to affect the people who can afford it the least…”
“Network cost is only going to go up and go up by increasing levels.”
“…the people that are already struggling to pay their power bills are going to get slammed…”
“The transition will falter if policy settings are driven solely by deployment targets without a practical plan for how to manage costs…”
“I think it’s the calm before the storm, and I think the storm is coming around cost and competitiveness and international competitiveness, and industrialisation.”
This report is alarming. If 40% price rises are the “calm”, how bad will the “storm” be for Australian households and businesses?
It confirms that Labor’s approach – which involves reducing emissions much faster than other developed countries – won’t work.
By contrast, our plan will put energy affordability first, harness all available energy technologies, while reducing emissions in a responsible way.
Our plan will reduce emissions year on year, in line with OECD countries, and as fast as technology allows.
Read more about our plan here:
