Australian power prices forecast to fall by 7% by 2022 as cost of renewables drops
by Paul Karp from Environment | The Guardian on (#4ZRMP)
Energy board says renewables growth will cut electricity prices, but warns extreme weather and ageing coal plants a threat to energy security
Retail electricity prices are tipped to fall by 7.1% by 2022 - an average saving of $97 per household - according to the Energy Security Board.
In its latest report on the health of the national electricity market, to be released on Monday, the ESB credits new low-cost renewable generation for driving down wholesale prices and warns that severe weather and ageing coal power plants are threatening reliability of supply.
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