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Renewables
Audit shows renewables driving down wholesale power prices in state where targets to be scrapped
Sophie Vorrath
16 December 2024 6:58 PM
New data has shown that wholesale electricity prices in Queensland fell by nearly 40 per cent over the 2023-24 financial year, prompting calls for the new Liberal government to stick with the state’s renewable energy targets and maintain the downward trend.
But they are certainly a sign that the cost of generating electricity is not going up as the state shifts to renewables – the report also highlights that Queensland is on track to meet all of its renewable energy targets, including 80% by 2035.
A new report from the Queensland Audit Office has found the Sunshine State’s average wholesale power price fell by 39 per cent over the last financial year, or by $54 per megawatt-hour (MWh) – more than any other state on the National Electricity Market.
