Sunday, June 11, 2017

What do consumers get out of the Finkel blueprint?

The release of the long-awaited Finkel Review and its promise of cheaper bills for consumers, even as emissions are reduced, underline the fundamental challenges addressing Australia’s electricity sector that the chief scientist fails to address.

Consumers have a right to ask themselves what’s in it for them. And for all the talk, and promise, of a major shift from centralised generation to a decentralised market, based around the consumer, the answer is: Not a lot.

According the limited modelling revealed so far, consumers will get savings around $92 a year by 2050. Coming on the same day, or the same week, that many consumers were told that their bills will jump $300 a year in 2017/18, that doesn’t mean much. In fact, less than nothing.

Read Giles Parkinson’s story on RenewEconomy - “What do consumers get out of the Finkel blueprint?

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