| I would caution against attributing to malice or fraud energy security policy. In this case, the losses are stop gaps until energy storage and transmission are scaled up, they are a form of insurance premium. https://energynews.us/2013/06/17/explainer-how-capacity-mark... Australia is also taking losses on its coal generation, and building out batteries at a tremendous rate. > Australia’s rapid shift from coal-fired power to cleaner alternatives is underwriting a boom in battery projects able to store solar and wind energy. > The country has at least 250 planned battery developments with a potential capacity of almost 130,000 megawatt-hours, a pipeline that’s second only to China, data compiled by BloombergNEF show. While Australia still relies on coal for more than half of its electricity generation, many major plants are set to close in the next decade. > “Operating a reliable low-carbon power system means that energy storage is imperative,” and investments are becoming “more urgent” as proposals to shutter coal assets accelerate, said Tim Jordan, commissioner of the Australian Energy Market Commission, the government’s adviser on energy policy. https://www.bloomberg.com/news/articles/2023-03-07/end-of-co... | https://archive.today/2owbd So, the coal plants are unpleasant, but they are not long for this world, as the global renewables and storage deployment flywheel comes up to speed. |