How much does the RET cost the average family?

18th September 2014

Fiona O'Hehir writes in Sourceable (17/9/14):

"According to News Corp Australia, Prime Minister Tony Abbott claims the renewable energy target (RET) is driving up power prices and threatening Australian companies and households. The renewable energy industry is now asking the Australian public to look behind the rhetoric and proliferation of misinformation.

"The ... pie chart shows the distribution of costs that make up the residential 'price of electricity'. The figures are published by Australian Energy Market Commission and have simply been represented in a visual form.

"As shown by the pie chart, the RET is three per cent, and the collective of the Environmental policies as shown in the numbers is some six per cent of the total cost, excluding generation. It is important to have a real conversation about the costs and the benefits of the RET. The cost of gold plating the transmission and distribution networks streaks ahead of all the others."

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