Australian households and businesses are grappling with the worst energy crisis since the mid-1970s, the energy opposition spokesperson Mark Butler says.
According to Mr Butler, renewable energy investment had collapsed by more than 50 per cent in the first half of the year.
He said Prime Minister Scott Morrison had been caught out pretending Australia was leading the world on renewable energy investment.
“(This is) against the advice of his own government department,” Mr Butler told reporters on Saturday.
“Power bills are going up (and) wholesale prices are up by 158 percent since 2015 alone, according to the Grattan Institute.
“Because of this collapse in renewable energy investment, thousands of good, well-paying jobs in that industry, which are growing everywhere else around the world, are also now at risk.”
In September, the Clean Energy Council announced it feared power prices would rise if the federal government did not extend the renewable energy target.
The group said new renewable energy investment projects plunged this year, after reaching a high in late-2018.
Last month Australia met its 2020 target, where 33,000 gigawatt-hours of Australia’s electricity will come from renewable sources by 2020.
Earlier this month, Federal Energy Minister Angus Taylor said he wanted to maintain coal power stations across the country.
Mr Taylor believed the only realistic way to balance investment in renewable energy while retaining reliable energy was to maintain a mix of coal, gas and hydro generation.