Senior policy analyst for energy at the Centre for Independent Studies, Jude Blik, has said a landmark report produced by his think tank proves “Australia has the most volatile power market in the world” due to Labor’s renewable energy push.

The report, titled: "Risky Business", claims the renewable energy transition will lead to higher prices for consumers, more frequent retailer failures and less competition in Australia.

The paper revealed wholesale price volatility was rising sharply in the Australian energy market, with extreme price spikes becoming more frequent at all times of the day due to the intermittent nature of renewable energy.

Wholesale energy prices in Australia have seen significant increases of over $90 per megawatt-hour ($34 in Queensland to $96 in Victoria) quarter-

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