Greenpeace just released new modelling, commissioned from private firm Reputex, showing that the National Energy Guarantee (NEG) will lead to higher power prices and do nothing to lower emissions.
The research shows the government’s “plan” on energy, contrary to their spin, fails on climate emissions and it fails on power prices.
The report’s key findings were:
- The NEG does nothing to lower emissions: under current policy, we will meet a 26% emissions reduction target by 2024
- The NEG will drive wholesale prices $20 per megawatt hour higher by 2030, compared to a more ambitious 45% target
- A 45% emissions reduction target will see 50% of electricity generation come from renewables by 2030
The report can be found on the Greenpeace website. It has been covered by the Guardian, AAP, Fairfax and The Australian, and on radio and television.