Sky-high energy prices could increase even further if the closure of coal-fired power plants is not matched with renewable generation and storage capacity, incoming Reserve Bank governor Michele Bullock has warned.
The sheer volume of investment required to meet Australia’s target of net zero by 2050 could also push inflation higher over the medium term.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
