The Finkel review’s recommendations are based on unreliable and unrealistic assumptions and forecast, according to an independent report commissioned by One Nation Senator Malcolm Roberts.
The report, Impacts on the Australian Economy and Australian Consumers, was conducted by global electricity market regulations expert Dr Alan Moran.
Dr Moran’s analysis found the recommendations handed down by chief scientist Alan Finkel in the Final Report into the Future Security of the National Electricity Market would “devastate the economy” and would slug average households with up to $768 more a year in electricity costs.
“The Moran review of Dr Finkel’s work is an in-depth and comprehensive roadmap to cheaper electricity,” Senator Roberts said.
“It demonstrates how Australia can return to low-cost reliable energy and a productive economy it had before renewable energy policies started to bite.”
Dr Moran makes a number of key recommendations including rejecting Dr Finkel’s recommendations; abolishing the renewable energy target (RET); and ceasing all government subsidies to bodies such as the Clean Energy Regulator and the Clean Energy Finance Corporation (CEFC).
“The alternative to Dr Moran’s recommendations is expensive, intermittent, economy-destroying electricity,” Senator Roberts said.
“The impacts of Dr Moran’s review will be felt far and wide as Australians, for the first time, are able to assess the real impacts of Dr Finkel’s devastating blue-print that will wreck the Australian economy.
“It was important we commissioned this independent review so as to provide robust and sound economic data for parliamentarians and policy makers as they consider the Finkel recommendations.”
The One Nation Senator, an avid climate change denier, said Dr Finkel has admitted that reducing Australia’s emissions would contribute “virtually nothing” to a reduction in global temperatures.
“By Dr Finkel’s own admission, his report is based on an assumption that if Australia should address the fabricated lies of anthropogenic climate change through hikes in electricity prices and job losses, we would still not have any real effect on global temperatures,” he said.
Senator Roberts said he would ask to meet with the Prime Minister to present Dr Moran’s roadmap to low-cost electricity for all Australians.