Hi Paul,

Given that the past is defined, unlike the future, we all tend to live in it somewhat, although our interpretations of the past don't seem to entail less dispute than our predictions going by what I read here.

I believe much information is obscured by the commercial interest backing it. In the case of renewables there are many tens of billions of dollars in government subsidies to be made, so glossy brochure claims for cheap reliable energy are assured, despite rising power bills and probable rolling blackouts in future.

Against this, Clive Palmer wants to build a coal fired power station. Whatever he is personally and professionally, he is not a fool and clearly sees an opportunity to have us over a barrel if renewable energy fails, which I believe it will.

https://digitaleditions.smedia.com.au/afr-todays-paper/Default.aspx

"Energy Minister Chris Bowen’s expanded green energy underwriting scheme could end up costing future taxpayers ‘‘tens of billions’’ of dollars, says a top energy economist who predicts $59 billion in new solar, wind and battery spending will eventually erode earnings from renewable power."

Here are some key facts from the Climate Council:

1) Energy from wind and solar is the most affordable
fuel source available today.

2) Energy from wind and solar is on average half of the
price of energy from coal and gas.

3) The cost of renewable energy will continue to fall
as technology improves.

4) The price of coal and gas is high and volatile,
contributing to rising energy bills.

5) Renewable energy protects Australians from international
price shocks.

When renewable energy is backed up by batteries and
other types of storage we can enjoy affordable
electricity 24/7 all year round.

"1) Energy from wind and solar is the most affordable
fuel source available today."

There's an old Russian story/proverb. An accounting job was being filled. Each candidate was asked to add 15 and 7. Each dutifully answered 22. Then one responded "what answer do you want". He got the job.

Costing energy sources is like that. Reach a conclusion and then work backwards. Calculating the total cost of an electricity source becomes an exercise in deciding what is added in and what isn't. For example with solar, do you include the cost of transporting the panels from the Chinese slave camps to the Australian wilderness? Do you count the cost of building transmission lines to the solar array? Do you count the cost of paying farmers for the land the transmission lines traverse? Do you count the cost of disposal of the aged panels?

And a myriad other issues. The opportunity to fiddle the numbers to achieve the desired outcome is uncountable.

One way to decide the true cost of renewables is to compare across countries. Scatter plots of the relationship between electricity costs and installed renewables show that, the more renewables a nation has, the higher its electricity costs. Not much room for fudge there so its rarely done let alone referred to.

The government in its utter ignorance of these issues promised to reduce electricity costs in its first term. They have no chance of doing that now. So the usual crowd will avert their gaze and pretend not to notice.

"When renewable energy is backed up by batteries and
other types of storage we can enjoy affordable
electricity 24/7 all year round."

Struth, it must be nice to live in such a Disneyfied world. BTW when the shamans perfect their dances, every Sunday will be sunny with a refreshing rain show in the late afternoon. Oh look there's Bambi.

Oh dear, you have to be just so naive Foxy to believe garbage like that, especially when it comes from a source that has never been right in anything it has ever predicted.

The fact that something is published has no bearing on if it is right, or even makes any sense, with the crowd running academia & the MSM today.

The IEEFA report is just a hit job, as this release from the AER demonstrates: http://www.aer.gov.au/news/articles/news-releases/aer-statement-institute-energy-economics-and-financial-analysis-report-regulated-network-electricity-prices. Looks like IEEFA pull this stunt every year as the media release is from 12 months ago.

AER sets the price the networks can charge. It sets it for a 5 year term and then reviews it. Each time it reviews it using current financial data, so ratchets it down. If a provider can reduce its costs to lower than the AER has used in its determination it gives the network owner more profit - what the IEFFA calls a "super profit".

The AER says this is a feature of the system. If it immediately took the efficiency dividend away from the provider there would be no incentive to be more efficient. The network operator won't get to keep it forever, just until the next review. Sounds like a good system to me, particularly as network prices are the largest component of the cost of electricity.

I noted WTF attributes the "super profits" to privatisation. An interesting thesis as control rests with the government, which sets the prices, as they would do in a publicly owned situation. And one of the networks named - Ergon- is actually publicly owned.

WTF also makes an incorrect statement about wholesale prices falling while retail prices rise, inferring that network charges are the villain. This document from the Victorian government puts paid to that: http://www.esc.vic.gov.au/electricity-and-gas/prices-tariffs-and-benchmarks/victorian-default-offer/victorian-default-offer-price-review-2023-24

How can you not love a country where a boy who lived
with his single mother on a disability pension in
public housing grew up into a man occupying the
highest office in the land.

DONALD TRUMP.

Yes, humble beginnings indeed! After developing a cure for cancer and before graduating from primary school, Statesman Donald went into politics. In his first day in office, Statesman Donald stopped all wars, eliminated world poverty, and raised every person on the planet living standard to equal that of Elon Mush, Jeff Bezos and Bill Gates combined, amazing! When questioned the modest Donald said; "It was nothing really, all in a days work." Donald worked like that for six days, and on the seventh day he rested! Had a sodie pop and a couple of doughnuts, as all the great ones do from time to time, and so it was....for Donald. Then in 2020 a dangerous new menace threatened the World, Covid 19, not perturbed, the now Doctor Donald sprung into action, with his trusty bottle of 'Pine-O-Clean' Doctor Donald single handedly vaccinated every man, woman,and child, on the planet, dogs and cats as well. Thus avoiding what could have been a bad hair day for some of us, and a really bad hair day for others. Some said Donald was Jesus....they were wrong, the unassuming Donald said; "I am not JESUS, I am GOD!"...and he was right... Then they kicked the poor sod out in favour of some decrepit silly old fart with dementia! Like that phrase General MacArther pinched off Donald in 1942..."I SHALL RETURN!'...and bloody hell Dangerous Donald might just do that!