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There has been a lot of commentary about how to measure the cost of renewables – but much of it misses the point
The indisputable reality is that the transition to carbon-free energy will be very expensive for years to come and likely to add to inflation.
The Victorian government will bank on payments made to big power users to scale back their electricity consumption during peak periods to avoid summer blackouts.
The market operator has delivered a much bleaker assessment of the state of the transition in the power system, as time runs short to catch up.
Technology cost increases of 20 per cent in the past year are making energy projects more expensive to build which could threaten 2030 climate targets.