Regulation, not inquiry, is needed to bring down electricity prices

Regulation, not inquiry, is needed to bring down electricity prices

Greens climate and energy spokesperson Adam Bandt MP today said that the Prime Minister is blind to the real causes of rising energy prices and that regulation is needed to fix the problem.

“The inquiry announced by the Prime Minister won’t bring electricity prices down,” said Mr. Bandt.

“The government itself is driving wholesale electricity prices up through mismanagement, attacks on renewables and their lack of a coherent national electricity policy.

“There are real issues with retailers profiteering, but when the government is driving up wholesale prices, a limited inquiry won’t fix the problem.

“With a carbon price and a higher Renewable Energy Target, electricity was cheaper under the Greens/Labor arrangement than under the Liberals.

“What will bring prices down is regulating this industry as we transition to renewables. We need a new public authority at arm’s length from government to lead a rapid transition of our energy system. Today we’ve given notice in the Senate to establish this authority.”

Media Contact: Gideon Reisner, 0429 109 054

TW: @AdamBandt FB: facebook.com/Adam.Bandt.MP

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