The ATA today launched its campaign for a ‘Cheap Energy Target’ which will greatly benefit Australians nationwide who are struggling under some of the developed world’s highest electricity bills. The CET presents a six-point solution that will eliminate the policy failures of successive governments and lower our power prices to at least the average of our fellow OECD countries.
“It is absurd that Australians pay so much for electricity when we are home to 30% of the world’s Uranium and are a leading exporter of coal.” Said Satyajeet Marar, Director of Policy at the ATA. “High electricity prices hurt Aussie families and businesses while destroying our productivity and competitiveness. They have driven quality jobs and industry overseas to countries like the USA where locals pay a fraction of what we pay for their electricity. Australians deserve a better deal and there is no good reason why they can’t have one.
“The evidence is that the ideologically-driven Renewable Energy Target has produced an overreliance on expensive, unreliable and heavily taxpayer-subsidised wind and solar power. Despite exorbitant corporate handouts to green energy companies, these sources remain dependent on fossil fuel backup for baseload power.
“Nuclear power is an innovative industry that could provide reliable and cheap power with a quarter of the carbon footprint of a solar farm. New technology produces a fraction of the waste of old generation reactors and Australia’s stable geography is the ideal ground for developing nuclear energy. Yet our government maintains an absurd moratorium that prevents us from harnessing the 30% of the world’s Uranium located in Australia, while the UK, China, Russia and India amongst other countries are investing billions in new plants. Failing to reverse this law will hurt future generations, prevent the creation of tens of thousands of new jobs and result in the rest of the world leaving us behind.
“18 years ago, coal provided most of the country with cheap and reliable electricity. However, subsidies to renewables have distorted the market and driven our coal-fired power stations into premature retirement. This has resulted in rising and volatile electricity prices, rolling blackouts in parts of the country and greater dependence on expensive natural gas.
“Concerningly, independent modelling shows that the RET and Paris Accord are not even going to make a significant dent on global temperatures despite their disastrous impact on consumers and taxpayers. We therefore call on state and federal governments to instead adopt our CET which will significantly improve the lives of Australians, especially those who need it the most.”
The ATA’s six-point solution is as follows:
- Lift the ban on clean and cheap nuclear power
- Reduce overreliance on heavily subsidised, expensive and unreliable wind and solar as well as expensive natural gas
- Abolish the Renewable Energy Target now (instead of in 2020)
- Withdraw from the Paris Accord
- Privatise transmission and distribution networks to lower prices for consumers
- Prioritise energy rebates for those who need it the most, such as by means testing the family tax benefit A and B (currently available to those who earn up to $150,000 a year) to create or increase rebates to the poor, pensioners, those on disability support and others in need