Budget week is looming – as are electric shocks over power prices and reliability

Last month energy minister Angus Taylor cited analysis by the Australian Energy Market Operator showing falls in wholesale electricity to nine-year lows as “an outstanding result [that] demonstrates how effective the Government’s actions have been”.  For example, he said, “In New South Wales, prices fell to $38/MWh, down from $86/MWh in the corresponding quarter in 2020”.  

Self-serving distortion is unremarkable among politicians and the true situation is far less rosy.  For a start, added to the wholesale price are other elements, one of which, environmental charges, has shown a rapid increase in recent years as a result of the subsidies that have fed wind and solar into the system. In NSW the…

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