A committee tasked with developing a plan for New Zealand’s electricity generation to be from 100 per cent renewable sources has delivered confronting advice.
While it can be done, it will be very expensive and will undermine New Zealand’s efforts to reduce greenhouse emissions overall.
A draft copy of the Interim Climate Change Committee (ICCC) report, obtained by Stuff, warns that while eradicating fossil fuels entirely was “technically feasible” it was also “very costly”, with the final few per cent of the target coming at enormous cost with little carbon saving.
Household prices were estimated to be 14 per cent higher in current terms under the plan, while the price to industrial users would be 39 per cent higher.
So the Government’s plan would see electricity prices increase 14%, and for what?
High electricity prices would slow the decarbonisation of the wider economy, making it more difficult for New Zealand to meet its target under the Paris Agreement to cut greenhouse emissions, the ICCC argues.
As it would make electric vehicles etc less affordable. So the Government’s plan would cost households and be worse for the Environment.