Mystery: Australians invest billions in free wind and solar, but prices rise another 20-30%

[rangerrebew]

Mystery: Australians invest billions in free wind and solar, but prices rise another 20-30%
By Jo Nova

Last winter’s debacle in Australia could be repeated this year, but at even higher prices.

Despite adding more cheap renewables per person than nearly anywhere on Earth, for some inexplicable reason our retail electricity prices rose 18% last year and are set to rise another 20 to 30% this winter.

Last year was a bloodbath on the wholesale electricity market. Those costs have fed through to retail.

 

AER Australian wholesale electricity prices. Graph
AER Australian wholesale electricity prices.

The Energy Minister Chris Bowen blames the Russians, and says we need more renewables.

Shock power bill jump to hammer households
Perry Williams, The Australian

https://joannenova.com.au/2023/03/mystery-australians-invest-billions-in-free-wind-and-solar-but-prices-rise-another-20-30/?utm_source=rss&utm_medium=rss&utm_campaign=mystery-australians-invest-billions-in-free-wind-and-solar-but-prices-rise-another-20-30