According to AEMO 230GW more capacity is needed by 2035. So far only 50GW has been planned and committed. This is hardly a vote of confidence in the economics of renewables.

That is quantitative enough.

WTF?

The AEMO that Chuckles quotes contains some interesting information.

This is the title of their article published on 23/10/2023.

"Renewables push NEM electricity prices down to historical levels."

AEMO’s latest Quarterly Energy Dynamics report shows that wholesale electricity prices averaged $63 per megawatt hour (MWh) in the September quarter, down 41% from the June quarter ($108/MWh) and 71% ($216/MWh) from Q3 2022.

This quantitative data provided by AEMO shows the results that renewables are having on electricity prices.

If renewables are so cheap why are domestic prices still rising.

In the military if you go AWOL when most needed you can end up in the brig or in Russia shot. If I recall the UK Academy of Engineers added the cost of open cycle gas to cover gaps. I understand ACCC will try to do an analysis of why retail power prices have gone up over 20% in successive years. Yet renewables advocates can say with a straight face that the price of electricity will go down.

Gas backup 40% efficient at the capped gas price must cost at least $100 per MWh just for fuel. Battery storage $100-$150, pumped hydro who knows what? Then there's the new transmission build and compensation for ruined farmland. Coal and gas backup requires RECs like LGCs $50 per MWh and certified but actually worthless carbon credits at $30 per tCO2. Then there's the cost of frequency correction FCAS if the generator doesn't have their own. Another potential whopper is compensated demand cutbacks eg one foundry was getting $8,000 per MWh. The rest of us pay for it. Those who say renewables are cheap are blinkered religious fanatics.

A current article that doesn't allow comments in The Conversation says the LCOE of SMRs could be over A$300 per MWh as divined by CSIRO and AEMO. Some SMR makers are quoting US$80 as recently as July. If Australia lets dogma overrule pragmatism we are headed for a cliff.

WTF?

Chuckles askes: "If renewables are so cheap why are domestic prices still rising."

Maybe ask AEMO - you after all introduced that organisation into the discussion to back up your point of view and they manage the markets.

Taswegian says: "Those who say renewables are cheap are blinkered religious fanatics."

Well the AEMO says that they are getting cheaper and they should know.

So if some are not getting the reduced prices that are clearly associated with renewables then ask the organisation tasked with managing the market i.e. the AEMO.

The reality is the electricity market manager is telling us that renewables are reducing the cost of electricity.