Renewable energy revolution? Energy Australia warns of power outages and price spikes – Is it up to speed with that?
Essays by Eric Worrall
A string of early fossil fuel generator shutdowns is jeopardizing the stability of the Aussie grid. But an even worse problem may be lurking for the Australian economy.
Don’t let fossil fuel plants retire too soon: EnergyAustralia
Colin Packham Energy and resources reporter
November 24, 2022 – 3:48 pmThe head of EnergyAustralia said Australia must go through agreements between the government and companies that manage the decommissioning of a fossil fuel generator to ensure grid stability.
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Under increasing economic and social pressure, some Generators has announced plans to accelerate the closure of fossil fuel plants. AGL Energy on Thursday became the latest company to announce that it will to close the aging Torrens Island B gas power plant in 2026cites the construction of a new connecting cable set up to expose the generator to deeper losses.
The closure could happen as early as next year, but the South Australian government has reached a $20 million deal to keep it running until at least 2026.
Despite the wave of new generation property pledges, Mark Collette, chief executive officer of EnergyAustralia – one of the most measured voices in the country’s energy debate – said Australia has not developed new renewable energy generation assets fast enough to make up for the loss of traditional energy sources such as coal.
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The big missing asset is energy storage. But there are also major generational shortcomings.
So why are energy companies pushing ahead with plans to phase out fossil fuel generators early, perhaps with the full realization that there aren’t enough renewable assets to replace those powered by fossil fuels? Fossil fuels have stopped working? Knowing that shutting down reliable energy early could bring down Australia’s electricity grid?
Maybe this is the wrong question. In my opinion, the correct question is – How much taxpayer money would the Australian government be willing to spend, if the Australian grid really collapsed? Millions of voters screaming for solutions, demanding power back at all costs?
There is only one way Australia can quickly raise the hundreds of billions of dollars needed to properly tackle this nightmare scenario – we will have to sell free ownership of the mineral resources. its vastness. No taxes, no royalties, new owners can come, bring their workers and mine whatever they want, keeping all the profits for themselves, in exchange for restoring the supply Australia’s electricity supply.
If I’m right, Australian leaders are driving Australian taxpayers straight into the trap, which could lead to massive long-term loss of national income and plunder Australia’s mineral resources.
Note that I am not accusing anyone of intentionally orchestrating this nightmare. There may be bad guys involved, but the bad guys don’t need to explain what’s going on. “Never attribute to malice what is satisfactorily explained by stupidity“- Hanlon’s Razor.
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