The Impact of a Delayed Transition on Electricity Bills

The Impact of a Delayed Transition on Electricity Bills report examines the impact to power bills for Australian households and businesses should renewable energy generation be capped at 54 per cent, as proposed under a nuclear energy policy.  

The report shows that: 

• Household energy bills would be 30 per cent more expensive (41 per cent for small businesses) in 2030 if Australia were to stall the pace of building new renewable energy projects. 
• Reliance on coal generation and additional gas generation, while waiting for nuclear, would increase the average household bill by $449 a year and $877 for a small business in 2030. This scenario assumes ageing coal infrastructure remains stable. 
• Should coal fired power stations experience significant outages, as has been the case regularly over recent years, the increase to household bills jumps to $606 on average per year while small businesses would see an average increase of $1182 in 2030. 
• Australians will pay a total of $2.3-$3 billion for gas electricity in 2030, compared to the $770 million we pay today.

Ninety per cent of coal-fired power stations are due to retire by 2035 and 60 per cent of them are more than 40 years old and increasingly unreliable. 

The more renewables there are in the system, the less we need to rely on coal-fired power and gas, with modelling confirming that staying on the current path will keep wholesale prices as low as possible.