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RET will drive up electricity prices, says Queensland government

The Queensland government has criticised the Labor government's Renewable Energy Target (RET) initiative, arguing that it will lead to a drastic increase in electricity prices in the state.

The claims follow a preliminary analysis from the Queensland Competition Authority (QCA), which estimated that power prices in the state would be 18 per cent cheaper without the clean energy initiatives associated with the RET.

"Most of these renewable energy sources are three to ten times more expensive than traditional ones and those costs are being directly added to electricity bills," said energy minister Mark McArdle in a statement issued today (September 5).

"Labor’s carbon tax will add about $194 per year to an average electricity bill, but what they won’t admit is that their RET and associated schemes also come at enormous cost to Queenslanders."

Mr McArdle argued that while residents were receiving compensation for price increases caused by the carbon tax, they were not receiving anything to soften the additional costs of these "green charges". 

Under the federal government's Renewable Energy Target, 20 per cent of the electricity used in Queensland will be required to come from renewable energy sources such as wind or solar power by the year 2020.

Posted by Charlie Moore