DANIEL Andrews waited until the very last second to release his dodgy modelling for Labor’s go-it-alone renewable energy target before debate on the ideological legislation in Parliament yesterday, says Shadow Minister for Energy David Southwick.
Energy Minister Lily D’Ambrosio said the impact of the Victorian Renewable Energy Target (VRET) on households would be “no more than 50 cents per week”. She then said the VRET will save “$30 a year for households”.
Labor’s hollow VRET modelling assumes there is a carbon tax in place, that wind and solar farms will not require connections to the electricity grid, and that coal power stations in Victoria won’t close.
This is not economic modelling, this is a Labor propaganda that will send electricity bills skyrocketing.
Even author Ernst & Young highlighted in the report that the assumptions dictated by Labor were inadequate:
“If investment in network infrastructure were required to facilitate renewable generation development, this would likely lead to increases in retail electricity prices through higher network charges.”
“If the increased penetration of renewable generation results in a more rapid retirement of existing generators, this could result in increased concentration in the wholesale market and could provide opportunities for generators to exploit incidences of transient market power. This has not been considered in the modelling.”
A Liberal Nationals Government will abolish the Victorian Renewable Energy Target to stop power prices from soaring.
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