While geniuses are bragging that the Australian grid survived two normal hot summer days without falling over, they don’t mention the flaming spectacle of the cost. Tom Quirk and Paul Miskelly, after a couple of suggestions from me, have calculated the full staggering electricity bill at $119m for SA and $267m for Victoria, making it nearly a $400 million dollar bonfire in two days that were neither the hottest days ever, nor records for peak electricity use either. See all their work and details below. To put this in perspective, a whole new gas plant could have been built for around $230 million. Instead of vaporising this money, Australians could have constructed one whole new gas generation plant, paid it off, and had money left over to give away free electricity too.
Every household of four in Victoria just lost something like $170 of productivity for two days of electricity, and in South Australia, $280. Respectively, $45 per Victorian and $80 per South Australian. While businesses also share this burden, ultimately companies are made of people, and this is productivity lost to both states. The losers are shareholders, customers, employees, some will be interstate, but the pain flows back. The […]
January 21, 2018 at 04:03AM