The alarming report this morning in The Australian about wholesale prices surging to $110 per megawatt hour because of Labor’s failing renewables rollout is damning.

Chris Bowen should come home immediately and get back to work.

The Government’s flagship green fund to underwrite renewable energy projects, the Capacity Investment Scheme, is a disaster.

109 projects have been announced, but only 49 are under contract. The collapsed projects represent a forgone capacity of 9.4 GW.

27 projects have collapsed, up from 9 in February, and only a single project has been delivered under this green mega fund, a small solar farm in Victoria.

Labor is also adding costs directly onto household energy bills by making Australians pay for the rollout of mid-scale solar, EV charging stations and the construction of new transmission lines.

While Chris Bowen is in Turkey on a Net Zero popularity contest, Australians back at home are having to pay more because of his incompetence.

ENDS

Media contact: Phil Connole M | 0417 063 605