High power bills during the summer months aren't out of the ordinary for many Australians. Keeping the house cool isn't always cheap, but according to Australia's Energy Market Commission, the rule-maker for electricity and gas markets, it could change. Their annual report on price trends shows price changes consumers can expect to see. Over the next two years, most Australians can expect to see a fall in electricity prices by an average of two per cent.
Nine million customers supplied by the national wholesale electricity market will be better off, while consumers in Western Australia, the Australian Capital Territory and the Northern Territory may see a slight rise. With more investment in wind and solar energy than ever before, the commission estimates the cost of energy generation in Australia will fall by around ten per cent over the next two years.
Paul Graham is the Chief Energy Economist at CSIRO and says renewables are taking pressure off the cost of electricity.
New South Wales Energy Minister, Don Harwin, says the state is leading the push for a greater focus on renewable energy sources in Australia.
Petra Stock from the Climate Council says there are concerns that Australia is not on track to reach its 2030 emissions target. It comes as a government report was released on Australia's emissions projections.
In a statement the Prime Minister Scott Morrison emphatically rejected that, saying "Australia is going to meet its 2030 target in a canter because of the suite of policies the government has put in place that support the environment, while also delivering on its plan for a stronger economy."
Environmentalists say the government is relying on complicated and controversial UN accounting rules - which allow it to use carryover emission credits to meet its targets, rather than making actual emissions cuts.
