Snowflake renewables investors false tears for “certainty” (Gimmedat guaranteed income!)

When investors cry for certainty, what they really want is “no risks” and “your money”

The renewables industry only exists because of government largess. What the government giveth, so can it sucketh.

Now that the bountiful wheel of the Turnbull government is turning slightly toward other beneficiaries, the Australian renewables industry are holding crisis meetings. Feel the entitlement! Sophie Vorrath reports in RenewEconomy on the green industry disappointment with the NEG — (the theoretical new Australian plan for Weather-Management-with-Socialist-Electricity-Grids.  )

The government is still picking winners, it’s just different winners:

NEG will block renewables, favour hydro and big retailers Oliver Yates, head of UPC Renewables:

Yates said that setting emissions compliance cost on a path to zero could “pull the carpet out” from under existing solar and wind energy investments and actually stop future investments. “This is very bad for our industry and very bad for the nation as a whole, as this orderly investment and orderly transition towards using new generation assets is required.”

And – “as a banker” – Yates also warned against the mentality that the NEG could be legislated now, and tweaked later, under a future Labor government, or a more […]

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via JoNova

May 6, 2018 at 10:33PM

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