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Consumers in Australia are facing rising energy costs and a lack of transparency in the country’s energy planning and regulation, according to a recent senate inquiry. The inquiry, led by Senator David Van, found that the burden of these costs is being placed on consumers, rather than on the companies and governments responsible for energy generation and transmission.
Senator Van stated that there is a lack of oversight and accountability when it comes to passing on costs to consumers, and that this needs to change. He also noted that the transition to renewable energy has stalled and is even regressing in some cases.
In response to the inquiry’s findings, Nationals Senator Matt Canavan called for an end to the target of 82% renewables by 2030, arguing that coal is a cheaper form of power. He also criticized the Australian Energy Market Operator’s Integrated System Plan, calling it a “propaganda exercise” for climate targets.
The inquiry also heard from witnesses who claimed that energy market bodies are acting against the interests of consumers and new market participants. Labor senators defended the Integrated System Plan, stating that it is one of the most open and transparent energy planning mechanisms in the world.
The inquiry’s central recommendation is for a Productivity Commission review, which Labor has rejected, arguing that it would create uncertainty and undermine the work of a national electricity market review already underway. The committee also highlighted the disproportionate amount of time spent on nuclear energy, stating that the focus should be on prioritizing reliable and low-cost renewable energy.
The rising energy costs have hit low-income Australians the hardest, and the lack of transparency in the energy market has only added to their struggles. Senator Van emphasized that the inquiry’s focus was not on adding nuclear energy to the mix, but rather on addressing the immediate issues at hand.
Overall, the senate inquiry has shed light on the challenges facing Australia’s energy sector and the need for significant changes to be made in order to ensure a more sustainable and affordable energy future for all Australians.