Power bills drop $28 a year thanks to renewable policy, since dumped by the government

Most Australians will pay $28 less on their annual electricity bill within two years largely due to a measure soon to be killed off by the Morrison government that encourages renewable energy and cuts carbon emissions.

The Australian Energy Market Commission says
large-scale electricity projects supported by the
Renewable Energy Target will drive falling prices
over the next two years. The Morrison government
will not extend the target after 2020. 

A report into residential electricity price trends by the Australian Energy Market Commission, due for release on Friday, comes as Energy Minister Angus Taylor repeated his government’s mantra on lowering electricity bills and downplayed a revolt from the states demanding more federal action on climate change.

The report found electricity prices will generally be stable or falling over the next two years due to a pipeline of new renewable energy supplies that will drive wholesale costs down.

Read the story from The Age by Nicole Hasham - “Power bills drop $28 a year thanks to renewable policy, since dumped by the government.”