Australia’s energy market is on the verge of collapse with a new report confirming 90% of baseload energy will be squeezed out of the grid by 2034 with no guarantee of replacement.
The revelation follows a string of dire warnings from the market operator depicting an energy market in a permanent state of crisis due to the Albanese Labor Government’s failing energy policies.
Despite the government’s lofty promises, recent reporting has exposed the 43% emissions reduction target, 82% renewable energy target, 89% electric vehicle target and the $275 reduction in power bills are all set to fail.
Shadow Minister for Climate Change and Energy, Ted O’Brien said the Government’s failed energy policy was to blame for the escalating threat to reliability and prices.
“Businesses are being forced to power down intermittently to keep the lights on and families are being asked to turn off clothes dryers, dishwashers and pool pumps, what’s next?” Mr O’Brien asked.
“Will Australians be asked to turn off the Christmas lights and avoid cooking the Christmas ham to save Labor the embarrassment of the lights going out?”
“It’s a disgrace to see Australians paying some of the highest energy prices in the world with the imminent threat of blackouts hanging over their heads.”
“The market operator’s report confirms that Australia’s baseload energy is being dragged out of the system prematurely by the Albanese Labor Government’s 82% renewable energy target.”
Central to the Government’s all-eggs-in-one-basket ‘renewables only’ plan is the carpeting of Australia with up to 28,000 kms of transmission lines and a steamrolling of regional communities in the process.
Despite the pain being felt in communities where transmission projects have failed to secure a social licence, the market operator says the government must plough ahead even faster to achieve Labor’s arbitrarily set renewables target.
Mr O’Brien called the government out for its reckless disregard for regional communities.
“The Albanese Government continues to double down on its failed policies with no regard to skyrocketing power prices, a lack of a social licence and an increasingly unreliable grid.”