Will killing the RET fix energy costs?

Tuesday, 11 July 2017

Judith Sloan thinks so:

So what can federal Energy and Environment Minister Josh Frydenberg offer by way of electricity price relief? He claims to have a three-pronged strategy, although there is no discussion of changing or suspending the renewable energy target, which has been one of the main drivers — arguably the main driver — of higher electricity prices.

The three prongs are: removing the appeal rights of the transmission/distribution companies; imposing export restrictions on gas companies; and construction of extra pumped hydro storage in the form of Snowy 2.0.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.