With gas prices stuck permanently above Albo’s $12Gj price floor:
His new power shock is going to the moon!
We are not going to top out for another month somewhere around $170Mw/h, a record for quarterly average power prices outside of the Ukraine war profiteering shock.
As you would expect, electricity futures are up 15% year on year as they begin to price Albo’s energy superidiot:
Gas remains the only problem for price and reliability. Nobody cares, least of all, Albo:
Labor’s proposed green-ratings system would reject gas as a sustainable investment under its draft framework, despite the Albanese government declaring the energy source was “key” to its ambitious renewables rollout and pursuit of net zero by 2050.
Under the proposed ratings rules, institutional investors looking to improve the sustainability rating of their portfolios would likely be turned away from pouring capital into the gas sector.
Gas has been listed as a “phase down” sector in a consultation report released by the Australian Sustainable Finance Institute, which has been tasked by Jim Chalmers with creating a green ratings system to “help drive capital into activities that will decarbonise the economy at the speed and scale required to reach our global climate goals”.
Of course, gas should be included as a transitional fuel.
Cripes, our transition is stuffed and most of Asia will keep burning coal.
We need export levies set at 100% of revenue above $6Gj to make local gas affordable.
