Australia has wasted almost two decades to resolve its energy policy and still has no plan for the transition away from fossil fuels, a non-executive director of Origin Energy has said.

Australia’s commitment to achieving net zero emissions by 2050 is expected to reshape the country’s $2 trillion economy. But with a global energy crunch driving demand for fossil fuels and the sustained surge in local wholesale electricity prices, the debate about how fast to accelerate to renewable energy has intensified.