The $30 billion government bail-out for power companies

Climate Spectator research has found the vast majority of private sector-owned power capacity in the National Electricity Market was purchased after 2007 and in full knowledge of the extra competition they'd face due to the Renewable Energy Target. Would it be good government policy to give them a multi-billion bail-out from declining power prices?

Private sector businesses have either acquired or constructed over 20,000 megawatts of fossil-fuelled power plant capacity since after 2007, when the Labor Party committed to substantially expand the Renewable Energy Target. This represents the vast majority of fossil fuel power plant capacity owned by the private sector in the National Electricity Market.

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Tristan Edis
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