Top business leaders warn electricity prices will take years to fall

Experts warn clean energy projects are not progressing, with coal still generating about two-thirds of the country’s electricity.

They say Labor’s pledge to triple the amount of renewable energy by 2030 is at risk due to the lack of green power. Failure to build replacement energy supplies may force the government to renegotiate its promise to slash $275 from household bills by 2025.

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Energy prices will take years to fall as supply fails to meet demandThere is more supply going out than coming in as experts predict energy prices will take years to fall back to pre-pandemic levels, says The Motley Fool Chief Investment Officer Scott Phillips. “If we see less supply and no reduction in demand – higher prices are going to have to be the result,” Mr Phillips told Sky News Australia.
Source: SkyNewsAust - 🏆 7. / 78 Read more »