GNX 2.38% 21.5¢ genex power limited

News: GNX Australia in final stages of mulling loan for India's Adani, page-9

  1. 69 Posts.
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    What exactly do South Australia's blackouts have to do with renewable energy? Why would electric vehicles cause the demand for grid power to increase by 2-3x? Why do we need coal powered fire stations for base load electricity? What even is base load electricity?

    I'd suggest you try a few different information sources apart from NewsCorp/AFR, and try having a look at what academics/experts in energy markets are saying. For example, if you'd read AEMO's report on the South Australia blackouts, as well as other independent reports, you'd know the reason for South Australia's blackouts was, in the first case, primarily the fault of damaged transmission lines and, in the second, failing gas generators. Similarly, experts predict Australia's electricity grid to decentralise in the coming years alongside the adoption of EV's, with solar and storage becoming cheaper for houses, giving them the ability to charge their cars from home as well has reducing demand for electricity from the grid.

    I'm not going to bother countering the rest of your points because, even though you haven't provided any links to information, I know where you've got them from; I've read it all before in one of the many opinion pieces in those previously mentioned "news" publications. Might be an idea to try out reading a bit broader. Here are some starting points.
    http://reneweconomy.com.au/
    http://climate-energy-college.org/
    https://about.bnef.com/
    https://www.aemo.com.au/Electricity/National-Electricity-Market-NEM/Market-notices-and-events
    https://theconversation.com/au/search?utf8=✓&q=energy

    There is a general consensus among energy experts that demand for grid based centralised electricity generation is going to decline rapidly in coming years, and therefore demand for coal will as well. This is without taking into any Paris/climate change mitigation considerations. By all means invest in coal if you want, but I find it pretty telling that many energy companies are divesting from coal and moving into renewable energy, and globally the appetite for fossil fuels is diminishing. You probably have missed the ads from AGL bragging how they are aiming to go nearly fully renewable soon, or missed the reason the owners of Hazlewood power station decided to shut it down, i.e they wanted to get into renewables.
 
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