Renewable Power Australia – Labor Party Leader Bill Shorten Promises $100 Billion Of Pain For No Climate Gain

PA Pundits - International

Bolt New 01By Andrew Bolt ~

Henry Ergas on one of Australian Labor Party Leader Bill Shorten’s most disastrous policies:

RenewablePowerWith barely one per cent of ­global emissions, Bill Shorten would have Australia mandate a share of renewable energy two times greater than that aimed at by the world’s largest emitters.

The threat that poses to consumers, who would face dramatic increases in power bills, is obvious…

Shorten has announced that “Labor’s ambition is to see 50 per cent of our electricity energy mix generated by renewable energy by 2030″…

A reasonable estimate (derived using a model developed for the Minerals Council by electricity specialists Principal Economics) is that increasing the renewables target would raise the costs of power by $86 billion, which amounts to $600 per household per year.

Given that the average family has an annual electricity bill of some $1600, adding $600 is hardly trivial. Nor could anyone claim…

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