Posted by: Grant | August 30, 2010

The Dreaded RET Bites – Hard

Seemed like a good idea at the time.
This is what happens when Parliaments take Greenies seriously – The Renewable Energy Target – groan.
Electricity prices set to soar as a result of government policy
Annabel Hepworth
August 30, 2010 12:00AM
"THE chief executive of one of the country’s biggest energy retailers has warned that power prices are set to increase dramatically.
Origin Energy boss Grant King said that complying with the mandatory renewable energy target (RET) and network spending would put upward pressure on energy prices.
"That’s not of our making, or anybody other than policymakers," Mr King told The Australian.
"That’s just the inevitable and logical consequences of the policies" that governments are implementing.
His comments follow both federal Resources and Energy Minister Martin Ferguson and his opposition counterpart Ian Macfarlane warning in separate interviews with this newspaper that power prices were likely to double in the next five to seven years.
Mr King said that estimate was "possibly conservative" and added that many consumers of utilities faced "a real come to Jesus moment" as suppliers were forced to re-price energy, water and other essential services.
The RET seeks to ensure that 20 per cent of Australia’s energy consumption by 2020 is derived from renewable sources…. "
Can someone please explain to me why our power bills should more than double so we can turn down our real power stations when the wind blows strong enough and the sun shines brightly enough?
Something to do with "saving the planet" wasn’t it?
Is it "saving the planet"? – well no – but it’s the thought that counts!
Yibbity, yibbity, that’s all folks.

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