October 20, 2021
SIMPLE ECONOMICS:
The folly of gas: Most new gas generators not viable, says Carbon Tracker (Joshua S Hill, 20 October 2021, Renew Economy)
Its new analysis of the 835 operational gas power plants in Europe with a total nameplate capacity of 189GW, and 2,200 plants in the United States with a nameplate capacity of 513GW, Carbon Tracker estimated that that 43GW worth of European plants and 159GW of US plants are loss making.Worse, it said most gas plants currently planned or under construction will never recover their investment - a fate that awaits, most Australian energy analysts agree, new gas projects in Australia such as Snowy Hydro's government funded Kurri Kurri gas generator in the Hunter Valley.Carbon Tracker said that more than $US24 billion is at risk in the United States and nearly $US3.5 billion in the UK is at risk, even if such new or planned gas plants run for their full planned lifetime.
Posted by Orrin Judd at October 20, 2021 12:00 AM