Household power bills in eastern states will rise by an extra $78 from mid next year.
A new report released this week by the Australian Energy Market Commission (AEMC) has revealed that, from mid 2017, household power bills in eastern states will rise by an estimated $78.
The Federal Government's renewable energy target and the closure of the Hazlewood coal-fired power station are being blamed for the expected increase to energy bills.
"Across the national electricity market the generation mix is changing – with the large-scale renewable energy target leading to substantial investment in wind generation," said AEMC chairman John Pierce.
"This is contributing to the closure of coal-fired plants and increasing wholesale and retail prices."
While energy consumers from all eastern states will be affected, it’s Tasmanian consumers that will be hardest hit by the Hazlewood closure. Tasmania has long been supplied power via the Basslink undersea cable from the Hazlewood power station. Power prices in Tasmania are expected to rise by an average of $204 per year as a result of the Hazlewood closure.
What do you think about the expected energy price rise? Should the Government be closing down coal-fired power stations and introducing renewable energy sources at more affordable prices?
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