Chaotically intermittent and heavily subsidised wind and solar are at the heart of Australia’s power pricing and supply calamity.
Like a runaway train, the disaster is unfolding before the passengers’ very eyes, with state and federal politicians apparently incapable of bringing the disaster to a halt and ever-present rent seekers throwing the throttle wide open.
Power prices are rocketing out of control, especially in those states chasing substantial Renewable Energy Targets.
Australia’s wind and solar capital, South Australia (with a 50% RET) suffers the world’s highest power prices – in the financial year just ended, its wholesale power prices jumped another 12%, with further hikes in retail prices expected to match that.
Neighbouring Victoria – presently embarked on the same suicidal path with a mass rollout of wind and solar power and chasing its own 50% RET – saw its wholesale power prices jump a whopping 19% in 12 months…
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