Low-emission technology having an impact on electricity prices
Consumers will only see their electricity prices reduced and Australian carbon emissions targets met if the cost of low-emission technologies is lowered.
This is according to Grattan's new report No easy choices: which way to Australia's energy future? established that governments need to introduce new policies to support a carbon pricing strategies.
Grattan Institute's energy program director Tony Wood explained that carbon pricing plays some role in keeping technology competitive, but in the long term this is unlikely to be enough.
"How governments should step in is an acute intellectual and policy challenge. Yet Australia's move to a low-carbon future will be too expensive unless they do," commented Mr Wood.
The report established that seven technologies have the potential to be deployed on a large scale in the next 40 years: wind, solar power, concentrating solar thermal, geothermal, carbon
capture and storage, bioenergy and nuclear power.
However, all seven are currently facing obstacles to achieving their potential and might not be meeting the electricity needs of the Australian people.
The South Australian Council of Social Service recently reported that utility costs are on the rise, with additional hikes likely to be seen in 2013.
Posted by Charlie Moore