Opinion - ALP's renewables push sending us to the poor house - The Daily Telegraph

ALP's renewables push sending us to the poor house

Op-ed in The Daily Telegraph, page 13, 25 July 2024

In every community across the country, Australians are financially suffering. 

Families who have never needed social housing are now on a wait list, food banks are not only providing essential items, they are now paying people’s power bills. Yesterday, the Australian Energy Market Operator (AEMO) report showed things have just become even worse.

The report stated that because it has been cold, people have been using more power. This is logical. What isn’t logical is the Albanese Labor Government’s over-reliance on an unreliable power source in renewable energy.

And this quarter, renewable energy generation is down, because the wind hasn’t blown or rained enough. Wind generation is down 20 per cent and hydro power is down 18 per cent. Therefore, gas has had to step in, with an increase in gas generation of 16 per cent, and coal is up 7 per cent.

Unfortunately, the Albanese Government has stifled gas supply as it doesn’t really like gas, so guess what – that means gas costs more. The end result is a 23 per cent increase in overall energy production prices.

Who pays for this increase? Australians. Just when people can’t take much more.

Labor’s $300 energy handout doesn’t even scratch the surface, when people are already paying $1,000 more than the Labor Party promised they would be at the 2022 election, when they were spruiking $275 off people’s energy bills.

More than 600 families have been going into financial hardship with their energy retailer every week since this Labor Government took office. You only have to take a walk down any high street to see more people experiencing homelessness than before. It is in plain sight.

There are many factors impacting the ability of everyday Australians to continue to wear the burden of this cost of living crisis. Those with mortgages are on tenterhooks as to whether the RBA will raise rates again. On top of this, why should they also have to carry this government’s fixation on renewables-only energy, when it is clearly not working?

With wholesale prices reported at $133 per megawatt hour, it is logical these costs are going to flow through onto household bills, especially when Labor has the country locked into its plan. The costs are also going to continue to flow onto gas-reliant small businesses, particularly our manufacturers.

It’s not only about prices. AEMO notified the Government of a risk to gas reserves from June through to September due to a rise in heating needs over winter. This means the power could go out.

Only the Coalition will deliver a plan for long term energy security with nuclear, alongside gas and renewables. This combination of energy sources will ensure reliability in the grid, bring prices down for families and keep our manufacturers onshore.