There was a large allocation about 20 years ago to build the next stage of the Loy Yang power station. Cain/Kirner stripped the accounts to cover up some of their economic incompetence. Then they set up the deal to sell Hazelwood and left Jeff stuck with it. Jeff did manage to negotiate a better deal.Since then there has been no additional baseload power supply in Victoria.
New clean coal plants – banned by laborgreens
Hydro dams – banned by laborgreens
New gas exploration – banned by laborgreens
Development of existing gas fields – banned by laborgreens
Nuclear power – banned by laborgreens
Cost of mining coal and gas royalties – tripled by Dan
Cost of operating labour – dramatically increased due to Dan’s boss at the unconstrained CFMEU.
Cost of “renewables” subsidies – Paid by big increases in power bills.
Cost of laborgreens “smart meters” – Paid by big increases in power bills
Cost of running the remaining coal fired power stations into the ground to make up for the loss of Hazelwood – Paid by big increases in power bills
It will take 4-5 years to build a new base load station from the time someone in government wakes up .. In the meantime expect your bills to double or triple and that is if they do NOT build any more of these idiotic subsidised wind farms.
Explains the increases in power prices very well.