Renewable Vitality Revolution? Vitality Australia Warns of Blackouts and Worth Spikes – Watts Up With That?

Essay by Eric Worrall

A string of early fossil gas generator retirements is endangering the soundness of the Aussie grid. However a fair worse downside could possibly be looming over the Aussie economic system.

Don’t let fossil gas vegetation retire too early: EnergyAustralia

Colin Packham Vitality and assets reporter
Nov 24, 2022 – 3.48pm

Australia should undertake agreements between governments and firms that govern when a fossil gas generator will be retired to make sure grid stability, the top of EnergyAustralia has mentioned.

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Beneath mounting social and financial stress, a number of mills have introduced plans to speed up the closure of fossil gas vegetation. AGL Vitality on Thursday grew to become the newest, saying it could shutter its ageing Torrens Island B fuel energy station in 2026, citing the development of a brand new interconnector cable that’s set to plunge the generator into deeper losses.

The closure might have occurred as early as subsequent 12 months, however the South Australian authorities has struck a $20 million deal to maintain it going till not less than 2026.

Though there was wave of latest technology belongings pledged, Mark Collette, managing director of EnergyAustralia – one of many nation’s most measured voices within the nation’s vitality debate – mentioned Australia was not growing new renewable vitality technology belongings shortly sufficient to compensate for the lack of conventional energy sources equivalent to coal.

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Learn extra: https://www.afr.com/corporations/vitality/don-t-let-fossil-fuel-plants-retire-too-early-energyaustralia-20221123-p5c0pc

The massive lacking asset is vitality storage. However there are additionally large shortfalls on the technology facet.

So why would vitality corporations push ahead with plans to retire fossil gas mills early, presumably within the full consciousness there usually are not sufficient renewable belongings to interchange the retired fossil gas belongings? Understanding that early retirement of dependable vitality might onerous crash the Aussie energy grid?

Maybe that is the improper query. For my part, the best query is – how a lot taxpayer’s cash would the Australian authorities be ready to spend, if the Aussie electrical energy grid really collapses? Tens of millions of voters screaming for an answer, demanding the ability be restored, it doesn’t matter what the price?

There is just one method Australia might quickly increase the lots of of billions of {dollars} required to set this nightmare situation proper – we must promote freehold entry to our huge mineral assets. No taxes, no royalties, the brand new house owners might are available, usher in their very own staff, and extract no matter they wished, protecting all of the earnings for themselves, in trade for restoring Australia’s electrical energy provide.

If I’m proper, Australia’s leaders are strolling Australian taxpayers straight right into a lure, which might result in an infinite long run lack of nationwide earnings, and the rape of Australia’s mineral wealth.

Word I’m not accusing anybody of intentionally making an attempt to engineer this nightmare. There could possibly be dangerous actors concerned, however dangerous actors usually are not needed to clarify what is occurring. “By no means attribute to malice that which is sufficiently defined by stupidity” – Hanlon’s Razor.

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