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Fossil Fuel Disaster Accelerates As Australia Runs Low On Coal

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By Capitalist Exploits - Tuesday, Jun 21, 2022

THE LAND OF COAL IS SHORT COAL

Australia?s biggest coal plant can?t get enough coal, as fossil fuel disaster accelerates: https://reneweconomy.com.au/origin-warns-of-coal-supply-shortages-high-prices-to-continue/

    In its quarterly update, Origin confirms its view that the price rises were being driven by coal plant outages and high fossil fuel prices, and warns it will continue in at least the near term until more renewables can be brought into the grid.

    ?The challenges with coal delivery to Eraring Power Station are expected to persist into FY2023,? it says in its quarterly update.

    ?This is expected to result in a material increase in coal purchasing costs given high coal prices and continued exposure to high spot electricity prices.

    ?While Origin has worked closely with coal suppliers to secure additional coal supply by rail, there are limitations to the amount of coal that can be delivered to the plant by this method. Therefore, there is uncertainty regarding the plant?s output in FY2023.

Staying in the land of the sausage sizzle?

Energy retailer tells more than 70,000 customers to go elsewhere or face doubling of prices https://www.theguardian.com/australia-news/2022/may/31/energy-retailer-tells-more-than-70000-customers-to-go-elsewhere-or-face-doubling-of-prices

    The markets are just rocketing every day,? Luke Blincoe, ReAmped?s chief executive, said. ?The best thing we can do is advise customers to look somewhere else because the price increases that we will need to put through are so significant that we just would rather they were elsewhere and getting better deals.

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Q4 2022 Baseload energy contracts

I don?t even know where to begin. I just shake my head. Instead, we just cruise on knowing that the worse it gets the better it gets? for our portfolios.

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