Energy regulators have warned the push to transition the energy grid is going to keep pressure on higher prices for some time yet, even if they may fall in the longer term.
for some time as part of the transition to a low-emissions economy, energy regulators have warned.
As energy regulators work on overhauling the energy grid to prepare for the influx of renewable energy, the ESB warned about keeping electricity costs down as they invest in new wind, solar, battery and transmission assets.“An orderly energy transition remains the best way to improve energy affordability in the long term,” the ESB report, to be released on Thursday, said.
The ESB consists of key energy regulators including the Australian Energy Market Operator, the Australian Energy Regulator and the Australian Energy Market Commission.highlighted the challenges ahead for Australia as it attempts to move to net zero emissions by 2050, saying the transition would be “bumpy and new challenges will emerge”.
AER chairwoman Clare Savage, who has long warned of the economic costs of the energy transition being worn by lower socio-economic groups, said declining energy affordability was increasingly concerning for consumers. The AER will launch its first-ever consumer vulnerability strategy next month that it hopes will improve energy equity.
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