Coal is costing Queensland
From 1 July 2022, Queenslander’s electricity bills will increase. Queensland’s wholesale electricity prices have skyrocketed as fossil fuel prices rise and our coal and gas power stations are becoming increasingly unreliable. Queensland desperately needs more investment in renewable energy, guided by a clear and ambitious 10 Year Energy Plan, to bring down prices.
This report outlines how the proposed Wambo and MacIntyre wind farms had been built by 2021-22, Queensland’s average 2021-22 prices to date could have been reduced by $30/MWh, or nearly 25%, by reducing the number of extreme price points and the reliance on gas during lower demand periods.
Wholesale energy costs are the main driver behind the price rises which will see Queenslanders paying up to $400 million more for electricity in 2022-23 than in 2021-22.
We can’t get back the past three years of limited progress, but we can get out of the cycle of playing catch up to high prices.
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Read the full report here.