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IPFS News Link • Energy

The most expensive electricity on Earth is in countries with "cheapest sources of electricity&q

•, By Jo Nova

The experts at the CSIRO tell us that renewables are the cheapest sources of electricity, with all their Capex calculations and their levelised maths, and yet the electricity bills set the house on fire. (It's Russia's fault!) Could it be that the experts accidentally forgot to analyze the system cost and that all the hourly megawatt dollars per machine don't mean a thing?

In the race to the most expensive electricity in the world, this week the UK is the winner. Germany is handicapped by being bundled into the EU27, lumbered with all the French nukes and is therefore not in the running. Australia is missing in action, but possibly only because the price rises were too fast and too much for the Eurostat, the US DoE, and IEA to keep up with, so they gave up.

And people wonder why China is the world's manufacturing base.

In the next graph is the "rest of the world". After 2021 Australian electricity prices are unmarked for some reason, but officially they rose 20% two years in a row. So that cost of €210 per MWh in 2021 could easily have become €300 by 2023, putting Australians second highest in the world after the UK.*

The bottom line is that from 2008 the price of electricity in China fell from €100 down to €80 per megawatt hour. While in Australia it rose from €125 to €300 and in the UK prices rose from €150 to €360. Effectively, the price of electricity fell 20% in China at the same time as it rose 240% in Australia and the UK.

If President Xi had wanted to run a campaign to sabotage our grids, he couldn't have done it better.