Renewable profits
JOHN Grimes’ “Renewable jobs boom” ( TB 23/ 8) highlighted the employment benefits associated with the renewable energy business.
But what he didn’t outline, was the loss of employment and cost to industry and the general public due to the excessive cost of power – costs which are becoming unaffordable for many businesses, small and large, and the potential for the loss of employment as a result of this – far outstripping any gained.
There is only one reason why so many companies, both from Australia and overseas, are clamouring to become involved in our renewable energy market, and this includes the Elon Musks of the world, and that is the lure of very high profits.
With the retail price to the consumer being some of the highest in the world, and with billions in subsidies flowing from the Government/ taxpayers to the renewable energy sector, these businesses can see huge profit potential, and that is the only reason they want to get on board.
AGL announced not so long back that they will not be involved in any new coal- fired power projects, because they believe that “Renewables are the energy of the future”, but that is just a throwaway.
They can see increased turnover and profits from the high priced renewable energy and continuing government subsidy, against significantly less from cheaper coal fired power and minimal subsidies.
Under this business scenario, why wouldn’t they focus on renewables?
Great for them as a business, but a very poor outcome for the power consumers, which are us and our businesses.
Let’s not be fooled into believing that they are all rushing here to the industry for our benefit intent on delivering cheaper power, or to “save the planet from dirty coal”.
They are here for their bottom line, and high power prices and continuing subsidies will ensure big profits. Lower prices and fewer subsidies certainly won’t.
There is no business magic in that.
Ultimately, their success will be at our cost, and that will be very high. We had some of the cheapest power in the world for many years. We now have some of the most expensive, and the only thing that has changed to cause that is the fanatical green drive of a renewable energy target and the renewable energy industry which has blossomed from that.
The average Australians and our businesses are not going to be the winners out of this. STEVE McPHERSON, North Ward.