The NEG is dead but all its developers remain in place, thrashing around as they seek out a new moniker for the policy of penalising and rendering uneconomic the coal based generation that not so long ago gave Australia the world’s cheapest electricity.
Politicians always sound authoritative and their ruminations on climate change and energy are no exceptions. But, almost universally, they are responding to their own self-interest as dictated by focus groups.
Six prime ministerial changes in eleven years and the collapse of low cost electricity has been the outcome of Australia’s political leaders’ attempts to marry economics with the green energy goals. We may not have seen the end of this. But the Trump victory and the his determination to restore cheap energy will eventually force changes beyond America’s shores.
Sadly, the costs already incurred and those still to be incurred can never be retrieved. See the piece at Quadrant.
post script. The AFR this morning claims that renewables in the EU are thriving without receiving subsidies. Did someone forgot to tell the author (and the hapless Fin Rev editor) about the EU version of the Carbon tax now with the equivalent of some $60 per MWh or about 50 per cent higher than the Australian market price before the slow burning renewable subsidy poison hit in 2015?