whatyareckon

Make electricity unreliable and unaffordable and you’ll soon turn your economy to ashes. Australia is on the brink of a major recession, and energy costs are front and centre.

Power prices will jump by 25 to 30% next month following the closure of yet another perfectly operable 2,000MW coal-fired power plant. Since the Federal Government’s Renewable Energy Target was ramped up by the Labor government in 2010, Australians have been hit with double-digit percentage increases in their power bills every year since.

Households are being hammered by rising interest rates and power bills that they simply cannot afford.

Then there are energy-hungry industries, like mineral processing, which are all but done for. Aluminium smelters will be the first to go, wiping out thousands of well-paid jobs in the bargain.

Peta Credlin taps into comments made recently by Peter Day, a director of one of Australia’s last remaining smelters. Day’s brutal analysis:…