Investors oppose Coalition's renewable energy restrictions in Australia

Major investors are expressing concern about Australia’s energy policies as the federal election approaches. They argue that delaying the rollout of renewable energy will increase electricity bills. This is because it would force the use of older coal plants and expensive natural gas. The debate over Australia's clean energy future has intensified. Opposition Leader Peter Dutton plans to limit renewable energy to 54 percent of the electricity grid and wants to establish government-owned nuclear power stations. This approach contrasts with Prime Minister Anthony Albanese's goals. The Labor government aims for renewables to compose 82 percent of the grid by 2030, a target many experts doubt can be achieved. A coalition of major investors, including BlackRock, Neoen, Macquarie Bank, and Squadron Energy, is pushing back against the Coalition's plans. They believe restricting the growth of wind and solar will keep Australia reliant on fossil fuels for longer.