I see Labor claiming to support a leaked version of the Finkel Review into the Future Security of the National Electricity Market – sounds like a variety of Carbon Tax to me. On that basis electricity consumers would be better served by the Fed Govt shelving the Finkel report. Better that we muddle on with the RET scheme the way we are. Renewables spruikers claim Wind and Solar is “so cheap” – if that is so – just build Wind & Solar then, no need for subsidies. I notice that after closing Hazelwood the AEMO Medium Term Outlook for Victoria forecasts worse reserve shortfalls in summer months. The Outlook for South Australia is also much worse now compared to the chart saved in Oct 2016. Added 12 June with Finkel now out – there are 4 versions downloadable. On p23/212 of the main report the map is even faulty – note the Murrayland link Vic to SA is missing and note the gap from Gold Coast to far NE NSW. Speaks volumes that all these apparatchiks on stratospheric pay let such a sloppy map through. They only had to copy the map from the AEMO front page – school kids could do it in seconds.
In the Snapshot pdf version p6/16 there is this statement “Generator security obligations”. Quote-[Under strict new standards, all new generators connecting to the National Electricity Market must meet technical requirements to contribute to fast frequency response and system strength.] How can wind turbines comply?
On page 7/16 of the Snapshot there is this “Generator reliability obligation”. Quote- [Obligations on new generators will ensure adequate dispatchable capacity is present in all regions…..] Can wind ever be dispatchable?
On page 205/212
To wrap up there is this junior Primary School standard statement from page 115/212 in main report. Quote -[A gas-fired generator must have sufficient gas available to generate the amount of electricity it has offered to the market. This includes having transportation arrangements in place to deliver the gas to the generation facility.] Cue fanfares.
One of the looney tunes recommendations of the Finkel document is apparently to compel coal generators to give three to five years notice of their intent to go out of business. So here we have a government enacting legislation to actively destroy the market of these generators, whilst at the same time compelling them to continue operating and accumulating massive losses for up to five years? If that isn’t sovereign risk on steroids that shouts to prospective overseas investors forget about that loopy south seas banana republic then I don’t know what is!
> ” … sovereign risk on steroids …”
There’s no risk at all – coal-fired stations will be required by law to stay open and generating while going bankrupt with no market for their product while wind is adequate for at least three years. I do wonder if that is subject to High Court action – I certainly hope so.
Interestingly, when Loy Yang was in huge debt trouble in 2004, the Vic Bracks Govt was so desperate to keep it open and generating that with AGL as the then only capable bidder, a special Parliamentary sitting (both Houses at midnight) was held to push through legislation removing the deal from the reach of the ACCC.
The cynicism no longer astonishes me. This is Waffle’s revenge for the Libs turfing him out in 2009. What a nasty, duplicitous, treacherous, disloyal, smug twerp he is.
Don’t imagine that he will cry tears if he loses the next election. He has achieved what he wanted. Destruction.
@Bob, any rationale executive would give immediate notice of their intent to close in three years, even if they didn’t intend to do so (just in case things became really bad three years down the track). It would also be a fantastic additional disincentive (as if more where needed) to building new power stations in the country.
I do wonder why this train of thought didn’t occur to Maestro Finkel when he wrote it down.
So Barnaby Joyce is a backbencher now? Good to see various Libs n Nats speaking up.
Finkel review: Government backbenchers question clean energy target report 9 Jun 2017
www.abc.net.au/news/2017-06-10/pro-coal-backbenchers-undermining-finkel-report-labor-threats/8606652
Longer term threat from WA Premier Mark McGowan.
WA again threatens to block gas pipeline plans over GST stoush 9 Jun 2017
www.abc.net.au/news/2017-06-09/mark-mcgowan-on-gst-discussions-at-coag/8605672?WT.ac=statenews_wa
Chief Scientist is a title just as worthy as Australian of the Year.
Both are littered with hopeless and/or wrong corpses.