Government’s renewable transmission plan will push prices up ‘even further’

Nationals MP Keith Pitt has criticised the Albanese government’s plan to pump tens of billions of dollars into transmission lines for renewable energy projects. “Transmission makes up roughly 50 per cent of your bill,” Mr Pitt told Sky News host Chris Kenny. “That money has to be recovered, there is a set rate of return for people who invest in it and it will push up prices even further.” According to the Australian energy regulator, wholesale electricity prices have fallen sharply across the country in 2023. Despite the relief, AEMO has warned it will take some time for the drop to translate to retail cost.