Nearly a billion dollars for electricity for just one day — $500 per family

The Electro-pyre conflagration escalates.

The cost of electricity on Thursday in two states of Australia reached a tally of $932 million dollars for a single day of electricity. Thanks to David Bidstrup on Catallaxy for calculating it.

As Bruce of Newcastle says " "Three days and you could buy a HELE plant with the money wasted." That's a power plant that could last 70 years, and provide electricity at under $50/MW. (Forget all the high charges for 30 years to pay of the capital (in red below), we could just buy the damn thing outright, paid off in full from day one.)

Cost of old coal plants in the USA. From the report by Stacy and Taylor, of the Institute for Energy Research (IER)

Burned at the stake: $500 per family

In Victoria, per capita, that means it cost $110 for one day's electricity. For South Australians, Thursday's electricity bill was $140 per person. (So each household of four just effectively lost $565.) In both these states those charges will presumably be paid in future price rises, shared unevenly between subsidized solar users and suffering non-solar hostages. The costs will be buried such that duped householders will not be aware [...]

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