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Transcription
Renewables being the cheapest form of energy is a lie. A recent study by the European Commission reveals that Australia and the European Union have the highest power prices in the world, despite having a high percentage of wind and solar energy. Countries like Canada, South Korea, Mexico, India, Indonesia, and Saudi Arabia have much cheaper power prices because they rely on other sources like hydro, nuclear, coal, and gas. This information is not being acknowledged by Australian politicians Anthony Albanese and Chris Bowen. News you can trust. Opinions that matter. Now, Ben Fordham comments. Well, I'll tell you, we're not going to get too far unless we stop lying to ourselves, and we want to look at this claim that we hear all of the time this morning. Renewables are the cheapest form of energy. It is a bin fire of BS, and that's putting it nicely. We hear it from politicians and public servants and academics and activists, you name it. They all say it. Renewables are the cheapest form of energy. But when you take in the research, you realise the size of the lie. There is a paper that's just been published by the European Commission. It's titled Study on Energy Prices and Costs, Evaluation Impacts on Households and Industry. And it's a ripper, because hidden on page 43 is a graph, and it compares household retail electricity prices between some of the world's largest countries, and thankfully Australia is included, and the numbers may or may not surprise you. On a per megawatt basis, retail power prices for households in Australia were about $350 in 2021. The European Union had a similar price, about $350. But compare Australia and the EU to the rest of the world. The retail price of power for households in Canada was $165. So that's 52% cheaper than Australia. The retail price of power for households in South Korea, $130. That's 62% cheaper than Australia. The retail price of power for households in Mexico, $110. That's 68% cheaper than Australia. The retail price for households in India, $85. 75% cheaper than Australia. The retail price in Indonesia, $130. 63% cheaper than Australia. In Saudi Arabia, $70. 80% cheaper than Australia. Are you starting to see the picture here? Australia and the European Union have the most expensive power prices in the world, and when you look at the numbers, it's by a country mile. Now, what do they have in common, Australia and the European Union? Well, they have heaps of wind and solar, the so-called cheapest forms of power. So here are the numbers. According to the latest figures from the International Energy Agency, 24% of Australia's power generation comes from wind and solar. That's pretty much the highest in the world. In the EU, the figure is 17%, also high. Now let's go back through the list of countries that have got much, much, much cheaper household power prices than us. Only 7% of Canada's power generation comes from wind and solar. That's because Canada relies on hydro and nuclear. Only 5% of South Korea's power comes from wind and solar. Korea relies on coal, gas and nuclear. Only 10% of Mexico's power comes from wind and solar. Mexico relies on gas. Only 9% of India's power comes from wind and solar. That's because India relies on coal. And none of Indonesia's power comes from wind or solar because Indonesia relies on coal and gas. And a mere 0.2% of Saudi Arabia's power comes from wind and solar, the rest from oil and gas. The conclusion? The two countries that have the most wind and solar energy have the highest power prices in the world. Or to put it another way, if you want to flip it around, the countries that have the lowest levels of wind and solar have power prices that are between 50% and 80% cheaper than what we have here in Australia. But you won't be hearing any of this from Anthony Albanese nor Chris Bowen.
