One of Australia’s biggest electricity and gas companies has warned the massive investment required to go green will put upward pressure on power bills.
“A future built on renewable energy with new technology, such as electric vehicles, is something to look forward to,” Origin Energy chief executive Frank Calabria told a business event.
“But delivering the energy transition, given the scale of investment required, will undoubtedly create upwards pressure on energy bills.”
Calabria said on Tuesday he feared the rising energy prices could erode community support for the transition to clean energy.
“We must be honest about the likely impact on bills over the short-to-medium-term to reduce bill shock.”…