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‘This is just wrong’: Tony Abbott disputes claims NEG will lower power prices

New figures show renewable energy will contribute to 36 per cent of Australia’s power generation within 11 years.

The modelling produced by the Energy Security Board suggests coal is likely to generate 60 per cent of the nation’s power by 2029, down from the current 75 per cent.

The new figures come as the federal government is negotiating with the states on a plan to reduce electricity prices.

Former Nationals leader Barnaby Joyce is the latest member to threaten to withdraw support for the National Energy Guarantee (NEG) if electricity bills don’t come down.

Former Prime Minister Tony Abbott tells Ben Fordham the “problem” with the NEG is “it’s all about cutting emissions and not about cutting prices”.

“I’ll all in favour of cutting emissions if we can but what we really need is an affordable reliable power system and that’s the last thing we’re getting as things stand.”

Mr Abbott disputes the figures which claim prices are expected to fall.

“Well, frankly pigs might fly. This is just wrong.

“It’s completely implausible. It’s utterly incredible.

“Every bit of modelling has said in the past that renewables reduce prices and the fact is the more renewables we’ve got, the higher prices go.”

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