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Energy Minister: Prices are too high as coal-fired power station shuts

Chris Smith

A new report has revealed the closure of Victoria’s Hazelwood coal-fired power station last year has caused a huge spike in wholesale power prices.

It’s hit the hip pocket of consumers, with the Australian Energy Regulator finding prices in NSW have jumped by 60%.

Energy Minister Josh Frydenberg tells Chris Smith power prices are still too high.

“The prices are definitely too high,” he says.

“We’ve taken action to reduce them and we’re starting to see some positive signs from our intervention in the gas market to get more gas to Australian customers instead of exporting it overseas.

“We’ve got another change to prices from July and we’ll be looking to companies to pass on some of the reductions.”

On the closure of AGL’s Liddell coal-fired power station, Mr Frydenberg says the government isn’t turning a blind eye.

“We’re very focused on it.

“I’d be happy for AGL to sell Liddell to another party to continue to keep that reliable supply going for NSW.”

Click PLAY below for the full interview

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