From 'Daily Telegraph' and 'Herald Sun', and to be in print...

From 'Daily Telegraph' and 'Herald Sun', and to be in print tomorrow:

Energy market experts have said that a key plank of the Albanese government’s plan cap power prices will at best be ineffective and at worst actually cause electricity bills to rise because we are still waiting for “the cavalry to arrive” in the form of enough renewable sources.

According to a report by consulting group Boardroom Energy which was sent to senior ministers in the NSW government Wednesday, calls by Energy Minister Chris Bowen for states to impose price caps are in fact “impractical” and “(risk exacerbating electricity price increases.”

“Even if a cap could be applied and did result in lower coal supply costs than otherwise, it is unlikely to materially impact wholesale electricity prices,” the report, which was commissioned by the NSW Minerals Council, states.

“If a cap persists over the longer term, it will impact long-term supply decisions … which will only put upward pressure on electricity prices.”

Rather than capping prices at $125 per tonne, as has been reported, the report says that the government should look at delaying the closure of the Eraring and Liddell power plants until there is enough renewable capacity to replace them.