What will happen to electricity bills under the Energy [R]evolution scenario?
The price of electricity in Australia may increase slightly in the short term under the Energy [R]evolution scenario. However, as renewable energy increases in scale it quickly becomes more competitive and ultimately cheaper than coal. Further, energy efficiency measures result in a 10 per cent reduction in electricity consumption by 2020, making a direct reduction to electricity bills. In comparison, energy costs triple by 2050 under a business-as-usual scenario. This is because of concerns over the availability of fossil fuels, market uncertainty, and the emergence of carbon pricing.
