Australian Energy Minister: The main reason for the increase in electricity prices in South Australia is not renewable energy

New Australian Energy Minister Josh Frydenburg said unusual fluctuations in electricity bills in South Australia are due to a number of factors, not renewable energy.

In recent years, as electricity prices in Australia continue to rise, more and more households are using renewable energy to generate electricity. Australia also encourages companies to invest in renewable energy such as solar and wind power. The Australian government has repeatedly expanded the Renewable Energy Target (RET) plan, proposing to achieve 20% of electricity from renewable energy by 2020.

According to research, the cost of electricity storage will drop by two-thirds in the next decade, and the cost of solar power generation will drop by one-third. The cost of solar power generation in Australia is only half of the grid electricity price, and solar power generation is currently encouraged in many regions of Australia.

However, with the recent cold wave hitting the southern region, factors such as increased electricity demand, equipment maintenance and rising natural gas prices have led to a sharp increase in residential electricity prices in South Australia.