Higher NEG target won't lower power prices, say business and energy experts

August 16, 2018

Business groups and energy experts have dismissed Labor's claims a higher emissions reduction target under the National Energy Guarantee will result in lower power prices than promised under the Turnbull government's 26 per cent target.

This is why Conservative party leader Cory Bernardi has been staunchly opposed to any energy policy which links our economy to enforced reductions in emissions from the Paris Climate Accord,  effectively shutting out cheap baseload power generation.

The Australian Financial Review reports, energy experts say Labor's claims of higher savings would be unlikely if more renewables flood the market and squeeze out existing coal-fired power stations.

Under the NEG, the share of renewables is expected to increase from 17 per cent to 36 per cent by 2030 as older coal-fired power stations such as Liddell in NSW (scheduled for closure in 2022) turn out the lights.

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