RET hits “critically endangered” list

Moa_-_rotated

An easy target – just like the RET.

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When lefty business rag, the Australian Financial Review joins the growing chorus of those ready to scrap the RET and start again, wind weasels must know they’re in BIG trouble.

STT placed Australia’s unsustainable Renewable Energy Target on the endangered list from the moment we started.  But with the Coalition’s RET review about to kick-off we’ve upgraded its status to “critically endangered”.

STT hears that a large and growing group within the Coalition are currently sharpening their axes with a view to wipe out the RET in its entirety.

And – it appears – the industry’s BIG players are lining up to help them.

Here’s the Fin Review’s take on the beginning of the end of the greatest economic and environmental fraud Australia has ever seen.

Renewable target needs to get with times
Angela Macdonald-Smith
Australian Financial Review: Drilling Down
October 25, 2013

Festering just below the surface of the energy supply debate is the vexing question of the renewable energy target (RET).

While gas supply has grabbed headlines in recent weeks, the growing crisis around the RET cannot be ignored. Discussion around the problem got as least as much airplay as coal seam gas at energy conferences in Sydney this week.

The 2020 RET is almost unique in that it is a piece of energy legislation that has enjoyed bipartisan support for years. But the target is looking increasingly untenable in today’s climate of declining wholesale power demand, putting that broad political backing under strain.

The RET in its current form mandates 41,000 gigawatt hours of renewable energy supply by 2020.

When the policy was designed that fixed target was to account for 20 per cent of total electricity supply. It assumed continued growth in wholesale electricity demand, in parallel with economic growth, as had been the case for ever.

Fast forward to today and the picture is very different. Power demand on the National Electricity Market (NEM) hit a peak in 2008-09 and has been on the way down since.

On the current trend, the same 41,000 gigawatt hours is likely to be closer to 28 per cent of total supply.

Consultancy ACIL Allen calculates the decline of 6.7 per cent in NEM demand since the peak is the equivalent of taking an 1800-megawatt power plant running at 85 per cent capacity out of the market.

But no such plant has been removed. No plants closed under the Labor government’s failed “contracts for closure” scheme and meanwhile more renewable energy is being forced into the market when no new capacity is needed. Several plants have been mothballed, but none permanently closed.

The result is what Origin Energy’s head of energy markets Frank Calabria says is probably the worst case of surplus capacity the market has ever seen.

The consequences are being felt throughout the energy supply space. Wholesale prices, excluding carbon, are as low as they were 10 years ago. Natural gas demand, which only a few years ago was expected to enjoy a boost from increased use in power generation, is stalling as far as domestic use goes.

In 2010, ACIL Tasman, as it was then, was forecasting demand for gas for power generation in the eastern states could reach as high as 1000 petajoules by 2030, depending on policy settings, out of total demand for the region of 1800 petajoules. Now the firm reckons 650 petajoules is more likely for the whole eastern states market in 2030, leaving aside liquefied natural gas exports.

The Abbott government is set to review the RET next year. For many it can’t come too soon.

Arguments by the previous Labor government that modifying the target to a “real” 20 per cent of electricity demand would destabilise the industry seem to carry increasingly less weight when virtually the whole energy supply sector is suffering.

But the stakes are high should the target be modified. Numerous foreign investors, such as Spain’s Acciona and New Zealand’s Meridian Energy, are investing hundreds of millions of dollars in wind power projects that will help meet the target.

Local players such as Infigen Energy and Pacific Hydro are similarly exposed.

Even discussion around potential changes to the legislation are damaging when the heads of Australian project developers seek sanctions for funding from their boards.

AGL Energy’s Tim Nelson pointed out on Thursday that the 9000 megawatts oversupply currently calculated in the National Electricity Market matches up pretty well with the amount of generation capacity that has been built, thanks to subsidies such as the RET scheme over the past few years.

Remove it and the market would be back in balance.

No one is suggesting that is the answer, but it highlights the distortions in the market that have been created by such policy interventions, however worthwhile.
The Australian Financial Review

STT notes the claim that Spanish wind weasel, Acciona is “investing hundreds of millions of dollars in wind power projects”.

Not in Australia they’re not.

Acciona isn’t “investing” so much as a peso in any windfarm project in Australia.

Acciona pulled the plug on its ludicrous Allendale proposal near Mt Gambier in SA, back in April this year.

And the same Spanish wind scammer is in more trouble than Ned Kelly, at its Waubra wind farm.

NedKelly_dock

From this point, things went down hill for Ned.

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Waubra does not – and can never – comply with the noise conditions of its planning consent – that means it should have never been accredited to receive the millions of Renewable Energy Certificates it has pocketed since it started driving the locals nuts over 5 years ago.

As STT has reported many times, Marshall John Madigan is on the hunt at Waubra and elsewhere with a view to recovering the more than $80 million in RECs filched by Acciona from the Commonwealth.

STT hears that his posse is closing in fast and that he’s been joined by a number of Coalition young guns who are ready to help round up the $millions received unlawfully by Acciona.

At the present time there are only 4 windfarm construction projects on foot – and none of them involve Acciona.

Despite approved plans to build nearly 2,000 giant fans in Australia (1,200 in Victoria, 500 in NSW and 185 in SA) less than 90 turbines are being erected in Australia at the minute: 27 at Mt Mercer (Meridian) in Victoria; 30 at Gullen Range (Goldwind) in NSW; 30 at Snowtown (Trustpower) in SA.

A half-hearted start has been made on the Boco Rock windfarm (Wind Prospect & Others) near Nimmitabel, NSW – where 67 fans are planned.  Apparently, these boys are in no tearing hurry – the local rag says it’ll be 2015 before they get their fans spinning.

STT hears that Meridian has not signed a Power Purchase Agreement for its Mt Mercer wind farm.  And because it hasn’t, we think that little “rush of blood” is likely to end in a trail of turbine tears – see our post here.

The wind industry knows its days are numbered.  The Climate Speculator, yes2ruining-us and ruin-economy are becoming more panic stricken and hysterical by the day.

The Fin Review has been one of the most dogged supporters of the great Australian wind power fraud.  So when it runs articles calling for the RET to be scrapped outright, Rogan Joshi & Co are likely to explode in eco-fascist apoplexy.

2_77

God $*#%$#@* dammit – NOT the Fin Review too!!

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Whichever way you slice it – the RET is economically unsustainable.

Kill the RET and the wind industry will pretty soon join the dodo, the moa and the Tassie tiger.  When it does, STT will be only too pleased to upgrade its status to “EXTINCT”.

thylacine

Sad to say this fella’s long been listed as “EXTINCT”.
But we’re very keen to see the RET join him on the list.

About stopthesethings

We are a group of citizens concerned about the rapid spread of industrial wind power generation installations across Australia.

Comments

  1. Jackie Rovenksy says:

    And this is one ‘endangered species’ that I will not be trying to save.

  2. Well it has started to happen, and I am excited.

    The wind weasels and greentards are not good losers. They will be chopping away and frothing at the mouth like an old boar pig when he is angry.

    The whole wind industry is one big fraud as we well know.

  3. Reblogged this on shelliecorreia and commented:
    The windscam is dying a slow and painful death…no regrets from me!

  4. It is only the loss of their own jobs that will scare the politicians into admitting that the windscam is a fiasco of gigantic proportions, and it needs to end! Hammer that fact home to them!

  5. sooner the better says:

    A.C. Grayling: “..an argument can be valid in form but unsound, either because one or more premises are false or because a fallacy has been committed..”

    This clearly applies to the Wind Industry, which propagandises being ‘clean and green’ at the same time promoting multiple fallacies, including that it is economic and does no harm to people, the environment, bats and avian fauna.

    Unlike the dodo, this industry has shat in its own nest with a constant stream of lies and misinformation about costs vs outputs, carbon mitigation, and adverse human and environmental impacts. And unlike the dodo or Tassie Tiger, this industry deserves to die. Bludgeoned to death by its own malfeasance and greed.

  6. Green Taxes – enriching already wealthy UK landowners and transferring UK taxpayer money to the almost wholly overseas owned turbine/solar companies – even Cameron PM and Co are waking up to the political implications as millions in the UK have to choose between heating and eating.

    Super rich Cameron and Chums do not care about the devastation of turbines on tourism, views, health and house prices (they all have big country homes and no turbines/solar to see) – but they do care about losing the 2015 UK Election.

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