Waiting for the Fizzer – Mick Raven
The upshot is a critical shortage of coal in WA, where South32 is having to import coal from abroad.
Similarly, state-owned power provider Synergy is also looking to buy coal from the eastern states,
while mothballing a big generator to preserve fuel stocks.
With the Australian government forecasting electricity prices could rise by 56 per cent over the next 18 months
and gas prices set to increase by 44 per cent, many households here are also looking at ways to save on energy costs.
“I think the rush [on air fryers] is already on,” said sustainability expert and senior industry fellow at RMIT, Alan Pears.
Energy insiders say it is becoming alarmingly difficult for power retailers and generators
to access a type of insurance through what is known as the hedging market, which is in virtual meltdown.
“Depending on the business, this could be a make-or-break as to whether they survive at all,
let alone having to whittle down some staff or change the ways they do business,” Mr Mallett said.
No Northern Territory gas has been sent to east coast markets since early September,
after the Northern Gas Pipeline’s owner, Jemena shut it down, citing safety concerns with such low supply.
That means PWC hasn’t been able to sell gas to its customer, Incitec Pivot’s Phosphate Hill fertiliser plant near of Mount Isa.
Also missing out on cashing in on lucrative east coast gas markets is Central Petroleum,
which produces gas in the Mereenie Basin near Alice Springs.
A leading Australian energy expert says the country’s biggest electricity market is on life support
as state and federal governments increasingly take control of the transition to renewable power.
The Northern Territory government is investigating ways to clean up an old copper mine,
described as “one of Australia’s most polluting sites” — a job which could cost taxpayers hundreds of millions of dollars.
Queensland will remain a “dominant” exporter of metallurgical coal for years to come
despite the state government’s clean energy push, a Bowen Basin coal producer says.
Earlier this week, the boss of Alinta Energy said retail electricity prices could jump by more than 35 per cent next year.
He said the rising cost of wholesale energy would be to blame,
but other factors were going to contribute to growing price pressures in future years too.
“The market is really in trouble,” warned Alinta’s Jeff Dimery.
Mr Dimery also highlighted the cost of transitioning away from fossil fuels in Australia.
Alinta is planning to close its Loy Yang B coal-fired power station in Victoria,
which produces 1,000-megawatts of power, replacing it with offshore wind and pumped hydro.
Those concerns were shared by Energy Australia‘s chief executive, Mark Collette.
Notice Alinta, Jemena and Energy Australia’s foreign owners…we are screwed! – Mick Raven