New Rystad Energy modelling predicts wholesale electricity prices will jump from $60 to $110 per megawatt hour by 2029, as coal retirements outpace renewable builds.
Senior analyst David Dixon noted Australia is exiting coal at double the rate of new renewables, amid delays in projects under the government’s Capacity Investment Scheme.
The forecast, released as Minister Chris Bowen attends COP31 in Turkey, has drawn criticism over unfulfilled promises of lower household bills and risks of shortages, with even green voices questioning the transition pace.
