The implications of the Australian Energy Market Operator (AEMO) 2024 Electricity Statement of Opportunities advice are clear – Australia’s energy market is on a knifes-edge.
AEMO’s report confirms that most of the eastern states – Victoria, NSW and South Australia – are at risk of blackouts from this summer, and reliability gaps are set to deepen over the decade.
This is a direct consequence of Labor’s all-eggs-in-one-basket renewables only approach which aims to kill gas and force the premature closure of 24/7 baseload power stations.
Under Labor’s policy settings, with 90% of our baseload power will be forced out of the grid by 2034.
You cannot power the country on wishful thinking, nor rely on the same government which promised a $275 cut to household power bills, to keep the light on.
AEMO’s report admitted the extension of the Eraring coal plant is what’s keeping the lights on, proving that Labor’s failed energy policy is making them more reliant on coal, not less.
The Market Operator also admitted there is no wriggle room in Labor’s ideological renewable-only rollout. If projects aren’t delivered in line with Labor’s unrealistic timeline, the lights will go out unless there are further extensions of coal or a greater reliance on gas.
To meet Labor’s goal, nearly seven gigawatts of new renewable generation must be installed every year to 2030. In stark contrast, last year only 1.3 gigawatts achieved financial close.
The gap between promise and performance is widening, yet Labor continues to claim the transition is on track.
Labor has deliberately sought to cover up how close Australia came to a full-blown energy crisis this winter because it knows their ideological policies are to blame. It is only getting worse as energy demand increases and supply decreases, which eventually leads to rolling blackouts.
Labor is trying to blindfold Australians as it drives the economy towards an energy catastrophe.