New modelling released today by the Australian Energy Market Commission (AEMC) confirms that renewables backed by storage is the only path to cheaper electricity bills for Australian families and businesses.
Delays in building more renewable energy and storage to replace Australia’s unreliable and ageing coal fleet and increased reliance on expensive gas, will make electricity bills more expensive for every Australian, which is also confirmed in the modelling.
AEMC’s latest modelling shows:
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Prices are projected to fall by 5% over the next five years, thanks to the building of renewables, storage and transmission.
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A one-year delay in wind or transmission projects increases prices by up to 20%.
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Gas is the most expensive power source, and is forecast to push prices up again after 2030 if it’s relied on as ageing coal power stations retire.
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Faster rollout of renewable energy and storage can cut power bills by up to 6% a year.
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Every state in the NEM will enjoy lower energy bills by 2035 thanks to household solar, batteries and electrification, with the average household $900 better off.
To help separate fact from fiction on electricity bills, read the Climate Council’s briefing paper, attached.
To arrange interviews with the below energy experts and case studies who can speak to how renewable energy has lowered their electricity bills, please contact:
Gabrielle Platt on 0493 442 307 or [email protected]
Experts:
Stephanie Bashir, Founder and CEO of Nexa Advisory
Stephanie has more than two decades of experience across the Australian energy sector and the broader economies it impacts. Stephanie has expertise in energy market policy and regulation, new energy technologies and service innovation, as well as networks and grid modernisation.
Location: Melbourne, Vic, Naarm
Johanna Bowyer, Lead Analyst for Australian Electricity at Institute for Energy Economics and Financial Analysis (IEEFA)
Johanna’s research is focused on analysing energy markets, trends and policies in the National Electricity Market, energy policy and decarbonisation. Johanna’s research topics include large-scale generation, electrification, Distributed Energy Resources and network economic regulation.
Location: Sydney, NSW, Eora Nation
Case Studies:
David Stuart, Owner of Colormaker Industries
David Stuart is owner and Managing Director of Colormaker Industries Australia, a paint manufacturer based in Sydney’s Northern Beaches. Colormaker is targeting carbon neutral by the end of 2025. David has electrified Colormaker’s manufacturing with 356 solar panels, a 144kWh ReVolve® solar storage battery, electric fleet vehicles and electric forklift. Any additional power required for his business is sourced from 100% renewables. By January 2025, Colormaker had saved over 800 tonnes of greenhouse gas emissions.
Location: Northern Beaches, Sydney, NSW, Eora Nation
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