Electricity prices "set to soar"

Freaking useless, and expensive

Thanks to feel-good Green policies, such as the renewable energy targets, which mean that electricity will have to be generated by useless wind turbines rather than plain-old efficient coal. Power bills are already creeping up, and it will only get worse, good people of Australia:

THE chief executive of one of the country’s biggest energy retailers has warned that power prices are set to increase dramatically.

Origin Energy boss Grant King said that complying with the mandatory renewable energy target (RET) and network spending would put upward pressure on energy prices.

“That’s not of our making, or anybody other than policymakers,” Mr King told The Australian.

“That’s just the inevitable and logical consequences of the policies” that governments are implementing.

His comments follow both federal Resources and Energy Minister Martin Ferguson and his opposition counterpart Ian Macfarlane warning in separate interviews with this newspaper that power prices were likely to double in the next five to seven years.

Mr King said that estimate was “possibly conservative” and added that many consumers of utilities faced “a real come to Jesus moment” as suppliers were forced to re-price energy, water and other essential services.

The RET seeks to ensure that 20 per cent of Australia’s energy consumption by 2020 is derived from renewable sources.

Wind farms would cost between $100 and $125 per megawatt hour, compared with $30 to $40 per MWh for coal.

Moreover, the intermittent nature of wind means that it would need to be backed up with big-ticket investment in gas turbine power plants.

Mr King said he suspected that policymakers “didn’t truly know the cost” of policies that had been introduced.

Really? You don’t say.

Read it here.

Comments

  1. Policy makers are completely aware of the extra costs and the hardship they bring. Look up Wind Concerns Ontario (Canada) to see many ongoing discussions about pricing and viability of power from Industrial Wind Turbines. Ontario Canada is poised to switch over 10 to 20 % (at faceplate value) of the grid to Wind Turbines — most of our power is Nuclear and Hydro.

    The turbines are completely unnecessary from any point of view. The cost from a health and monetary point of view is beyond the value of the power generated.

    Dump the idea! It is a loser!

  2. UK wind generation is presently running at approx 30% of theoretical output. The 20-year service life promised for off-shore (North Sea) seems to be settling towards 8 years average.
    Is it reliably windy where these heavy investments will be situated? It certainly isn’t in the UK – all the surveys, planning hurdles, multiple-authority approvals and projections have failed to prevent some very dubious decisions.

    So, good luck with that.

  3. Gary A. Coffing, Sr. says:

    I am enjoying your views from my compound in Texas. I would propose that you brace yourself for the inevitable increases in energy costs. Have they ever gone down? I have found a water generator that requires no electricity capable of producing plenty of water without a well. I am coating my house with a low VOC coating that has proven to reduce electrical use for cooling and heating by more than 50% and am growing my own food again. It might appear as though I am selling out and hopping aboard the green bandwagon or in a survivalist off-grid mode however quite the contrary. I am tired of paying my money to the utility companies who are in bed with the politicians and I don’t want to play their game anymore. I intend to save the planet and my hard earned pay, One buck at a time. (that’s about as green as I get) If I can watch the big screen TV with my A/C cranked down to 69% and pay half what I am paying now, I’m in. Being new to your group, I would like to ask if I can give my e-mail address (prior to posting it), so those interested in doing the same can inquire off line. Or perhaps a new discussion could be opened for exchange of ideas that are affordable and allow us all to take back our lives from this corrupted attempt to fleece the people. Australians and Texans share a unique bond as people who don’t take bullsh*t without giving more in return. I ain’t given utilities or politicians any more than I have to from here on out! Gary

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