Soaring renewable transmission costs to pressure power bills

Robert Gottliebsen of The Australian newspaper claims that the original financial estimates for proceeding with a renewable energy plan in NSW and Victoria were pure fiction and completely underestimated the project’s complexity and cost.

After collaborating with Aidan Morrison of the Centre for Independent Studies, Gottliebsen argues that the Australian Energy Market Operator (AEMO) had estimated in 2020 that most of the transmission line projects would cost just $8.5 billion. However, the transmission lines will now cost at least $120 billion and could ultimately rise above $200 billion.

The wind and solar generators, in turn, will cost a further $160 billion, Gottliebsen says.