Renewables surge set to drive down power prices, but policy uncertainty stalling investors. I speak with Grattan Institute energy policy director Tony Wood

A flood of new renewable energy projects is likely to drive down electricity bills according to new analysis by the Australian Energy Market Commission. 

The bill reductions come from lower wholesale costs and the reversal of hikes from the closure of brown coal power stations in South Australia and Victoria. 

But Grattan Institute energy expert Tony Wood says the lower prices could be short term with investors cautious to bankroll projects given the lack of a clear energy policy. 

Tony Wood speaks with the ABC's Peter Ryan. 

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