“The energy supply crisis being inflicted on Australia’s eastern seaboard is not an accident; it is a core design feature of the policy of net zero emissions by 2050, which is still supported by both major political parties,” said Daniel Wild, Director of Research at the Institute of Public Affairs.
IPA research and analysis has identified that over the next decade at least six coal-fired power stations are scheduled to close, which will take a further 20 per cent of energy generation capacity off the national energy market.
“Over the next decade, at least 20 per cent of Australia’s energy generation will be eliminated in the name of net zero, without any form of affordable and reliable energy generation taking its place,” said Mr Wild.
“The energy crisis real Australians are experiencing today is only set to intensify over the short to medium term with the imminent closures of coal-fired power stations such as Liddel, Eraring and Yallourn W.”
The fact that the Australian Energy Market Operator has been forced into the extraordinary position of imposing rarely used energy price caps amid soaring wholesale energy prices highlights the depths of crisis dawning on Australia’s National Energy Market.
“Relying on AEMO to force power generators to run at a loss simply to keep the lights on is no way to run a first world energy market and economy,” said Mr Wild.
“With a large amount of Australia’s coal-powered generation capacity going offline due to net zero induced technical faults and coal supply issues, real Australians are witnessing what will happen to their energy supplies when power stations are soon closed for good in the name of net zero.”
“Net zero is forcing reliable and affordable baseload power generators out of the electricity market in preference of heavily subsidised and unreliable wind and solar, which Australia’s top energy security adviser has declared cannot provide the baseload power Australia needs.”
“At the end of the day, our leaders cannot escape the immutable fact that if you are counting on renewables for our energy future then you can count on black-outs and explosive power price hikes,” said Mr Wild.