The more ambitious a clean energy target is, the lower Australian wholesale electricity prices will be, according to new modelling by energy analysis firm RepuTex. The Finkel review, released last month recommended the government introduce a clean energy target (CET), which it found would cut emissions from the national electricity market and put downward pressure on both wholesale and retail prices. The Finkel review only modelled a CET that would cut emissions from the electricity sector by 28% below 2005 levels by 2030. But all available analysis has demonstrated that such a cut would not be enough to meet Australia’s overall emissions reductions made as part of the Paris agreement, which themselves were too weak to help meet the central aim of that agreement – to keep global warming to “well below 2C”.
Guardian 10th July 2017 read more »