Yes, we need to migrate from coal fired power to renewables; and yes, Australia, with its wealth and scientific leadership, should be leading the way. But let’s not lose sight of the cost of doing so.
Transgrid in Australia is looking to build the 500 kV Humelink interconnector across rural NSW so as to deliver hydro power from the Snowy Mountains and other renewables to the demand centres on the coast. Today the utility jacked up the estimated cost of the link from A$1.35 billion (US$1.0 billion) in January 2020 to A$3.3 billion (US$2.4 billion) and it could go further. The Sydney Morning Herald calculates that households in NSW could each pay an additional A$60 (US$44) per year. More immediately, that’s A$5.5 million (US$4.0 million) per km across largely empty territory.
