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Electricity Prices Plummet 44% as Renewables Surge

1/29/2026

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Summary

Story summary

Electricity prices in eastern Australia fell to $50 per megawatt-hour in late 2025, a 44% decrease from the previous year.
This decline resulted from renewables contributing over 50% of the grid, reducing reliance on coal and gas.
Energy Minister Chris Bowen attributed the drop to Labor's policies, while opposition spokesman Dan Tehan criticized the government for failing to deliver a promised $275 power bill cut.
Experts cautioned that renewables still cannot fully meet demand during extreme weather conditions.

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Story summary

Electricity prices in eastern Australia fell to $50 per megawatt-hour in late 2025, a 44% decrease from the previous year.
This decline resulted from renewables contributing over 50% of the grid, reducing reliance on coal and gas.
Energy Minister Chris Bowen attributed the drop to Labor's policies, while opposition spokesman Dan Tehan criticized the government for failing to deliver a promised $275 power bill cut.
Experts cautioned that renewables still cannot fully meet demand during extreme weather conditions.