Andrew Bolt: Power-crazy Dan’s SEC a costly joke

Daniel Andrews sold us a fraud with his election promise to bring back the State Electricity Commission and we’re now seeing how catastrophically pointless the scheme is.

Australians, be warned. Stock up on candles. See the crumbling in Victoria of our latest mad global warming scheme.

Look at this State Electricity Commission promised by Premier Daniel Andrews at the last election.

It’s already going the way of other government-backed green-power fantasies – the geothermal power plant that collapsed, the wave generators that sank, the bogged Snowy 2.0 pumped-hydro scheme that’s looking to cost 10 times more than promised.

Around the country, green politicians – including Prime Minister Anthony Albanese – are destroying our electricity system without having anything workable to replace it.

The State Electricity Commission is already going the way of other government-backed green-power fantasies. Picture: David Crosling

Next month’s jump in electricity prices – 20 to 25 per cent – is just a taste of what’s coming in the greatest public policy disaster in our lives.

Now this. Last week came news that Dr Alan Finkel, Australia’s former chief scientist, had quietly quit as an adviser to Victoria’s new State Electricity Commission.

That SEC was Andrews’ signature promise at last November’s state election. He campaigned in jackets and pullovers with an SEC logo, promising to bring back this sold-off state authority.

His promises were wild. Andrews said the SEC would finally make wind and solar power replace coal-fired power by 2035.

Alan Finkel has quietly quit as an adviser to the State Electricity Commission.

He’d spend just $1bn on the SEC to replace the 4.5 gigawatts of power from the giant Loy Yang A power station when it closes in 2035. He’d look to “like-minded” superannuation funds to chip in the rest. And power prices would fall.

Andrews piled on the populism. His SEC would keep power generators under state control, he vowed, and cut out the “greedy”, “price-gouging” companies who were hiking power prices.

It was nuts. Voters were asked to believe super funds would be glad to hand Andrews’ SEC their money for just a 49 per cent stake, no ultimate control, and get just modest profits.

They were asked to believe that 4.5 gigawatts of wind and solar power – that vanishes when the sun stops shining and the wind stops blowing – could make up for the loss of 4.5 gigawatts of coal-fired power that runs 24/7.

They were asked to believe it could be done with just $1bn.

SEC was Andrews’ signature promise at last November’s state election. Picture: David Crosling

You’d have to be an idiot or dupe to believe any of it, and many voters were.

It was frightening how easily Andrews fooled people, just as federal Energy Minister Chris Bowen now fools voters with promises to run the country’s electricity grid on 83 per cent renewable energy by just 2030.

But now brutal reality is setting in about Andrews’ SEC, and Finkel leaving is just one sign of strife.

The new SEC’s interim boss, Chris Miller, last week admitted it still hadn’t found its first project, as investment in green power dries up. Around the country, not one renewable energy generation project reached a final investment decision in the March quarter.

But Miller admitted to more than that. No, $1bn wouldn’t be enough to replace Loy Yang A: “Our seed capital of $1bn doesn’t buy 4.5 gigawatts acting alone.”

And no – Andrews’ new green SEC would not necessarily give lower prices: prices could in fact rise.

Prices up? Andrews had sold voters a fraud.

Of course bills will soar, because politicians lie when they say renewables are cheaper.

The problem is fundamental. Green power means building two electricity systems instead of one.

Sure, a wind farm looks cheap. But you must build new transmission wires to all those new wind and solar farms across the country – an estimated 10,000km of lines over the next seven years, and compensate angry farmers along the way, as much as $400,000 per kilometre.

You also need another power system in the background to take over when there’s no wind or sun. Plus something like massive spinning turbines to maintain a stable electrical frequency.

The cost is horrendous. The Australian Energy Market Operator estimates replacing fossil fuels will cost around $320bn by 2050. Who do you think must pay that back?

But the cost may not be the worst of it. AEMO last week warned we’re running way behind in replacing the coal-fired power generators we’re driving out of business. There’s a shortage of workers, material, money and more.

Is that our future? Paying a fortune to end up without enough electricity? All to “stop” a fake global warming crisis?

How did we let ourselves be fooled into doing something so catastrophically pointless?