By 2GB breakfast host Ben Fordham
The energy crisis and rising power prices are only going to get worse.
A new report has warned electricity bills could sky-rocket by the end of the decade.
The rapid closure of NSW’s coal plants could see the average family fork out double for their annual energy costs.
The Institute of Public Affairs has found that every megawatt of coal-fired power taken out of the grid has led to a 2 cent rise in costs.
By the time other plants close in 2030… A Sydney household could be paying $2,600 a year to use electricity.
According to the Daily Telegraph- that’s a 100% increase on the current average of $1,300.
That’s going to sting.
And it flies in the face of what we’ve been promised.
By 2030 – the new Federal Government wants 80% of the grid to be powered by renewables.
Ben Fordham is pictured with his wife Jodie Spears
The current rate is less than 30%.
Coal and gas are still doing the heavy lifting.
But Energy Minister Chris Bowen says:
“Renewables are the cheapest form of energy.”
NSW Treasurer Matt Kean.
“Our renewables roadmap will see households save $130 a year.”
They’re telling us the ground is up.
And the sky is down.
Our energy grid has been badly neglected.
It’s the consequence of decades of dud Government decisions.
Top of the list – privatisation.
From the coal plants… to the grid… to the retailers.
They used to all be controlled by the people of NSW.
Now they are in the hands of the private sector.
And we now have to plead with coal plants to ramp up their supply.
It’s an embarrassment.
No wonder the coal plants are crumbling and closing…
Because that’s the signal they’ve been given by those in charge…
Matt Kean has demonised coal.
So the companies that own them have been spooked.
AGL shuts Liddell next year.
And Origin is closing its plant at Lake Macquarie in 2025.
Those two plants have provided 50% of NSW’s electricity supply.
And the State Government is allowing them to switch off.
Matt Kean believes he can replace them with 50 renewable projects.
But have a look at Germany.
They have spent $800 billion in the last 20 years switching to renewables.
They now have the most expensive electricity prices in Europe.
The war in Ukraine has also dried up their gas supply.
So Germany has had to pass emergency legislation this week to reopen their coal plants.
We have a right to be asking if that was the future for Australia.
The difference is- that unlike Germany- we can be self sufficient.
We are up to our necks in coal and gas… but 70% of what we dig up is sent overseas.
The NSW budget states that coal royalties will be $800 million higher than anticipated.
So there’s massive demand.
But we’re shamed for using it here.
We can experiment and invest in renewables.
But we are going to need coal and gas… when the sun doesn’t shine… and the wind doesn’t blow.
Otherwise – we face the fear of blackouts.
And power bills keep rising.
And speaking of power bills – Matt Kean might be in for a shock when he opens his next bill.
The lights in his electorate office seem to be on 24 hours a day.
Even when the office is closed – the lights are on.
A listener has been observing the bright lights at night…
They’ve sent us the photos.
What’s going on Matt?
The lights are on.
But nobody is home!
The Treasurer has told us there is a wiring issue which is being fixed.
But the lights have been on since Saturday.
Isn’t this the same Matt Kean that told people last week:
‘We’re asking office blocks to turn off their lights if they’re not being used.’
Is there a sparkie around Hornsby who can help Matt Kean???