The power 'price shock' lie to halt renewable energy

Why would the Big Three power companies pass up bargain basement prices of $30 for renewable energy certificates if the price was - as the Business Council of Australia is threatening - about to skyrocket to $93 unless the RET is slashed?

With even the Warburton review finding that the Renewable Energy Target does not push up consumer energy prices, opponents such as the Business Council of Australia are now conjuring up a new argument.

They are claiming that the current overhang of certificates (and low prices) will prevent new projects being built to meet the target, which will result in an undersupply (and high certificate prices) within the same market.

How can this be?

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