Opinion

Climate change has broken Labor’s promise to cut electricity bills by $275

The reality for both sides of politics is that delivering lower emissions and reducing power prices is a false target. This is not negotiable – we cannot negotiate with physics.

Tony WoodEnergy expert

Nov 5, 2024 – 12.45pm

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Human-caused climate change is affecting the lives and livelihoods of all Australians. Yet the political debate ahead of the next federal election is focused on the cost of the energy transition and its impact on power bills. That narrative must change.

Australia has a bipartisan commitment to achieving a net zero economy by 2050. A key policy challenge is to meet this commitment while ensuring electricity is reliable and affordable. The political response has been unrealistic promises of lower prices. The risk of false promises is to lose voter support for the energy transition when the promises are unrealised.

Tony Wood is head of the energy program at the Grattan Institute.