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Matt Canavan raises alarm on ‘failing’ energy industry amid rising prices 

Ray Hadley
Article image for Matt Canavan raises alarm on ‘failing’ energy industry amid rising prices 

Outages at a number of coal plants are being blamed for driving up east coast power prices.

In its latest snapshot of the market, the Australian Energy Market Operator reported wholesale costs soared by 141 per cent from a year earlier.

Prices averaged at $87 a megawatt-hour, 67 per cent higher than the three months to the end of December.

While Ray Hadley accused the major parties of ignoring the rising figures, Senator Matt Canavan insists it’s the consequence of not building “enough reliable power” in the country.

“We’ve been sold this fantasy that unreliable, intermittent, renewable energy will somehow bring power prices down,” he said.

“It’s failing before our eyes.”

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Ray Hadley
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