Punishing Price: Australia’s Wind & Solar Obsession Means Power Prices Keep Rocketing

STOP THESE THINGS

Like night follows day, adding chaotically intermittent wind and solar to your grid sends power prices into orbit. South Australians know it: they suffer the world’s highest power prices as a result of their 50% RET.

Other Australian states are heading in the same direction. Victoria’s great wind rush has already sent prices rocketing: wholesale prices jumped 19% last financial year. Part of a trend (see above) which is all set to continue.

The effect of surging power prices is economically insidious. Electricity is a critical input to a range of businesses, such that rising power prices reduce margins, squeeze profits and limit the opportunities to employ staff and otherwise re-invest in those businesses. Ultimately, profits become losses and a date with insolvency and a liquidator soon looms.

On the consumption side, households being belted by ever-rising power costs naturally reduce their spending on everything else.

Not that the…

View original post 1,305 more words

1 Comment (+add yours?)

  1. nottrampis
    Sep 29, 2019 @ 20:14:57

    really cannot even mention higher gas prices.
    no wonder you are part of the unscientific ‘right’

    Like

    Reply

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