It's time for honesty on the renewable energy future

Recall Labor’s Powering Australia Plan, released before the 2022 federal election, which claimed that it would cut NEM wholesale power rates by $11 per MWh (from $62 to $51) by 2025, resulting in lower retail power prices.

Prime Minister Anthony Albanese hailed RepuTex Energy’s analysis as “the most comprehensive modelling ever done for any policy by any opposition in Australia’s history since Federation”.

Albanese regularly repeated the claim that Labor would reduce electricity rates by $275 by 2025 (i.e, this year):

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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.

It’s time for honesty on the renewable energy future