DonSnowy 2.0 construction has started.Yet another enormous cost burden (probably over $10,000,000,000 by the time it's finished) to add to add to the poor long suffering grid users and (what's left of) our businesses forced to pay whatever prices the regulator sets - but then again taxpayers and grid users are easy targets for these hare-brained scheme promoters aren't they.
It is funded by combination of inputs the include general revenue and income from future power sales.
High power prices kill jobs, drive away investment and makes us less competitive with countries like China who pay less than a quarter of the standard kw/h charge that we do here in South Australia. Why would anyone in their right mind want to try and run a business in this state with basic things like electricity and gas almost the most expensive in the world? No wonder we've go the highest unemployment in the nation here.
Why are you (and others here) still going into bat for this job-killing, productivity-hobbling policy is beyond me.Australia's power prices are no where near the highest in the world and dropping...This is either ignorance or blatant dishonesty: Power Technology Magazine:
The energy numbers look great on paper for the lucky country, but you’d be hard pressed to convince many Australian families and businesses that their electricity supply, and what they pay for it, has anything to do with good fortune. Australians – particularly those who live in the eastern states of South Australia, Queensland, New South Wales, Victoria and Tasmania, which together make up the National Electricity Market (NEM) and account for 86% of the country’s population – pay some of the highest residential electricity bills in the world.
South Australia tops the list with just under A$0.50 per kWh, with New South Wales, Queensland and Victoria also represented in the world’s top 10 highest electricity prices. As a comparison point, the European Union average is just over A$0.30 per kWh, while US consumers, benefiting from a glut of cheap gas, pay between A$0.10 and A$0.20. A report published in June by the Grattan Institute found that wholesale electricity prices increased by 130% in the NEM between 2015 and 2017.
Again, why do you write these things without even doing the most basic of searches to find out whether or not there's any factual basis to it? And you wonder why I seldom bother to read things that you've wrote -
While I share concerns on the cost : benefit ratio, your $10B number came from your ar$e, so lets leave it there.
The price of power has been in the past state govt political manipulation and in the last 10 years driven by competition as determined by the market regulator. As SH 2.0 is a pump back system, there is little benefit from price manipulation.
China is actually expensive for power for bulk users.
That link doesn't work and likely outdated as we both know and you have previously posted SA typical retail power price and its not 50c or anywhere near that.
Again again again Don, we know the govt's F'ed up in the past and corrections have since been put in place which is seeing the wholesale and retail prices stabilise and begin to decline. 2021 is now the cheapest in last 5 years
The SA whole price $41/MWh is now less than before Wind in 2007 $45 MW/h, not adjusted for inflation.
2021 Qld, NSW & Vic Wholesale price are also some of the cheapest (not adjusted for inflation) going back to 2006 when wholesale power price trading data is available.
"world’s top 10 highest electricity prices."
You recently quoted other data which had Australia around 11th ,make up your mind. That list you also posted also only had around 30 countries, so how can you say we are top 10 when it only has around 30 countries and half of them are know govt subsidized for retail users and these prices frequently don't translate to bulk users and most of those countries don't have 5% of the network and distribution costs of Australia.
A good price comparison was the fact NZ was only marginally cheaper yet NZ has not built large scale RE and most of their generating assets are aged and most of the growth demand is focused in one city.
You can keep quoted outdated articles on the subject or you can catch up with the rest of us.