Director of Regulatory Economics Dr Alan Moran says Australia is expected to see “many more” energy price increases if Labor subsidizes more renewables.
Dr. Moran says that every renewable injection into the electricity market is subsidized, so coal is eliminated.
“Coal has to operate 24/7, so they’re making renewables essentially get a preference in the market, and that means coal has to adapt to them, and that means that coal has to close,” he told Sky News presenter Chris Kenny.
“So if the Labor Party says this is all because they don’t have enough renewable energy, that’s not true.
“If we are going to have more renewable energies, they will have to subsidize more.”