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TOPIC: Synergy Post 656 Million Dollar Loss

Synergy Post 656 Million Dollar Loss 2 weeks 6 days ago #175407

  • Bazza
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Strap yourself in for the collapse of the States Power network and an explosion in power prices and everything else thanks to the subsidised renewals that are killing the viability of the states power grid.
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Synergy Post 656 Million Dollar Loss 2 weeks 6 days ago #175438

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How one goes from a 25 million dollar profit last year to this years supposedly 6 hundred and fifty million $ loss is anyone's guess? Is going to be very interesting listening to the state governments reasoning, and what it actually means?
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Synergy Post 656 Million Dollar Loss 2 weeks 6 days ago #175439

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Bazza: correct, of course, the genuinely poor cannot afford to take advantage of the subsidies.

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Synergy Post 656 Million Dollar Loss 2 weeks 5 days ago #175476

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westaussieguy wrote: How one goes from a 25 million dollar profit last year to this years supposedly 6 hundred and fifty million $ loss is anyone's guess? Is going to be very interesting listening to the state governments reasoning, and what it actually means?


What it means is you and I will be paying more.

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Synergy Post 656 Million Dollar Loss 2 weeks 5 days ago #175477

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ArkRoyal wrote: Bazza: correct, of course, the genuinely poor cannot afford to take advantage of the subsidies.


The poor are actually subsidizing the subsidy....

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Synergy Post 656 Million Dollar Loss 2 weeks 5 days ago #175479

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Write downs that’s all it is. And it’s BS this scare mongering about the network not being able to cope with more solar panels. They are just setting us up to pay more. They need to replace old infrastructure with new stuff built for the 21st century.

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Synergy Post 656 Million Dollar Loss 2 weeks 5 days ago #175480

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Bazza wrote:

ArkRoyal wrote: Bazza: correct, of course, the genuinely poor cannot afford to take advantage of the subsidies.


The poor are actually subsidizing the subsidy....

Baz when I was on skid row in my old property I still managed to afford solar panels. One of the companies was offering 2 years interest free so I only had to lay down about $6 or 700. Total cost about $1700 for 8 panels. That was when the state govt was offering the generous 40c p/kw rebate. But last year I only paid $2700 for 20 panels for my new digs so panels have come down in price and have greater output. I believe most people can find a few grand if it’s going to save them hundreds per bill. I anticipate I’ll get my money back comfortably within 3 years.

It is probably the best investment one can make.

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Synergy Post 656 Million Dollar Loss 1 week 1 day ago #175845

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Well it sounds like reality is starting to dawn on even Johnson and Labor..

Its looking like that if they want to keep a reliable energy source, those responsible for hollowing out the current system are going to have to contribute and that includes renewable energy .

www.abc.net.au/news/2019-10-08/synergy-f...er-bailouts/11579864

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Synergy Post 656 Million Dollar Loss 1 week 1 day ago #175846

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Bazza wrote: Well it sounds like reality is starting to dawn on even Johnson and Labor..

Its looking like that if they want to keep a reliable energy source, those responsible for hollowing out the current system are going to have to contribute and that includes renewable energy .

www.abc.net.au/news/2019-10-08/synergy-f...er-bailouts/11579864


That's not what i read into it Baz. Bill Johnston says the reason for the massive increases by the previous govt was their refusal to write down assets. They were probably trying to pump up it's value to offload it.

"Despite the setbacks, Energy Minister Bill Johnston insisted the Government would not grant Synergy bigger power price rises to ease the pain.

Mr Johnston said the decision to write down the value of Synergy's assets was long overdue and the previous government's failure to do so had left the utility with artificially high costs that had to be recovered from consumers.

As a consequence, he said the previous government was forced to tip in $750 million to subsidise Synergy's costs."

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