By Jo Nova
Banker warfare to destroy businesses but make the weather nicer…
It’s another emergency on the Australian Soviet-style electricity grid. An entirely profitable and law abiding operation is potentially about to be shut down, putting 4% of the national electricity supply at risk, because the bankers want to save the world, and the government is helping them. Who runs the country, is it the PM or the banker cartel?
Delta Electricity needs a bank guarantee so it can keep trading in our national electricity market, but 15 banks have refused to supply that because of their own show-pony ESG requirements, designed to impress their ski buddies at Davos. Essentially, the bankers want to decarbonize our electricity grid, and make electricity more expensive for the poor, but can’t be bothered to run for election, so they are running the country the way they want anyhow — voters be damned.
It’s even more absurd that it looks, Delta isn’t asking for a loan — it’s profitable, it has the cash. But the bankers won’t even hold the cash and promise to pay it back when needed. Delta’s current bank guarantee runs out on Dec 31, and after that it won’t be legally able to supply electricity unless the bureaucrats change the rules. So Delta has issued an urgent request for a rule change to add the words “or cash” to the current market rules.
Anthony Albanese could solve this in five minutes. Apart from the banal rule change, all these banks are only allowed to trade in Australia with government approval, and their role is to serve the people, not to control the weather, or run political agendas. All the PM has to do is threaten to revoke their licenses or issue a new license to a competitor that will serve fossil fuel entities. He could also pull government contracts and pension accounts from bankers who boycott legal Australian entities for political reasons. (See how Ron de Santis did that in the US). The US Republican States have already solved this to some extent.
One of Australia’s oldest coal generators refused bank guarantees, operating status under threat
Delta Electricity, which operates the Vales Point coal-fired power station in New South Wales, has requested an urgent rule change from the Australian Energy Market Commission after 15 banks refused to offer it credit on emissions grounds.
Chief executive Richard Wrightson said he had even offered to deposit money with an institution as security, simply to procure the financial instrument necessary under the rules, but even that offer was refused.
“We’re actually not asking them to lend, we’re just asking them to issue a bank guarantee,’’ Mr Wrightson said.
“This de-banking is dangerous … I won’t describe it as a crisis now, but unless we prepare for this, it’s chaotic.’’
Delta Electricity runs the Vales Point coal fired station in New South Wales. It has a capacity of 1320MW, and was marked for closure in 2029, but the Czech group that owns it said it should run at least another 4 years. The poor sods. What foreign company would want to invest in Australia any more with a rabid government that allows the banking mafia to run the electricity grid and to bankrupt legal entities on a whim?
What looks, acts and smells like a banker cartel?
What are the odds in a free market that 15 out of 15 banks decided to adopt the same “anti fossil fuel” boycott program at the same time? All of them are saying “No thanks” to the profits from arrangements with thermal coal. Speaking of which, why aren’t all the other private coal plants struggling? The plants owned by Alinta and EnergyAustralia are Chinese State assets, so President Xi is happy to help. But AGL and Origin Energy own coal plants and they aren’t begging for a rule change. Do they get a free pass from the bankers because they also own unreliable generators too? Is that how this works — to squeeze out the only independent coal plant with no vested interest in sabotaging coal power?
The octopus grip of the big bankers spreads.
All the Australian “Big Four” bankers signed the GFANZ banker cartel agreement — ANZ, CommBank, Westpac, NAB, plus Macquarie Bank, and Bank of Queensland. They serve the globalist UN, or their BlackRock and Vanguard masters, not the Australian people. All banks depend on government protection for their ability to create legal currency out of thin air. If you or I loaned money we didn’t have, it would be called counterfeiting.
The money-printers have more control over our national grid than our PM seemingly has.
h/t Bally, RickWill,
Time to name and shame these banking institutions, so we can lodge a formal complaint with their management. Maybe even arrange some sort of a BDS program against them.
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I’ll bet the banks will also use their muscle to stop the MSM from publishing any damaging reports becoming available to the public. It’s all very “ Davos “ oriented.
Keep the public in the dark & only feed them BS.
It really is time to put Trump back in the WH & time for this ALP excuse for a government & all the clowns there in to be unceremoniously gotten rid of!
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The appropriate response to this report is to report it to the local police station.
Al Capone would have been proud of them!
A lifetime of personal observation tells me that if this action of the banks causes a 4% cut in electricity supply, this will trigger a more than 4% rise in the price of electricity.
THis rise in the price of electricity will then enhance and “protect” the value of investments that these banks have made and hold in recent years.
That used to be not allowed!
So it surely can’t happen!
Keep a record for later use if it goes ahead.
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Thanks, Jo, for alerting us.
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Could it be a signal that these banks are expecting a “crash?
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Perhaps, buy stocks in Delta Electricity? Or, Delta Electricity might offer to share profits to stockholders as the generator of last resort when the wind/solar are insufficient?
The market actually does respond to real situations absent Govt interference.
How about shorting the stocks on wind/solar when they are vulnerable?
Perhaps i’m missing something?
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All the government has to do is threaten to remove the government guarantee on bank deposits of any bank that refuses to loan or provide the guarantee to Australian buisnesses that are an essential service and a viable entity .
No one is going to keep their money in a bank if there’s a risk and the banks know that .
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At least the QLD LNP Opposition are looking to keep the QLD Coal Fired Power Stations going. I think and hope. Lots of coal in QLD and NSW as it happens. How about Chris Minns steps in foe Delta and I hope he can assist with the Orange Gold Mine that has been knobbled by Tanya PleberSuck.
Otherwise, Vale Australia and back to the Stone Age. With all these Activists with their drug habits maybe it will be called the Stoned Age…………….
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The banks are only abiding by their country’s laws, that are set by their Government.
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Surely this is a form of gouging?
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I have a vague memory from school in the last century … something about private capital and government factions cooperating to manipulate the citizenry and suppress criticism.
It had a name … ‘ash’ something … started with an F, I think.
Can’t quite recall.
Memory’s getting a bit squishy.
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But we’ll be told that that is just so old fashioned.
‘Last century’ indeed.
This is a Modern, Post Industrial World, we’ll be told.
At least for us – if ‘they’ have anything to do with it.
But flights to ski resorts won’t happen if there is not the whole hinterland of industry, markets etc.
The Banksters may find they have money, and control – but nothing much to buy, and nobody to control.
Even without the primitive manual hay-pitching devices and heavy-petroleum-based night-vision enhancing tools.
Auto
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Greed and lust for control would normally be mitigating.
Destruction of everything would destroy them along with us, but I’m getting a sense they are oblivious.
My gut feels it’s becoming different, the minds of the elite are being taken by a mind virus that kills its’ host with apocalyptic ideation.
The gender/reproductive self mutilation trend might be a symptom of a species or society that has become self destructive.
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Crony Capitalism.
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Are you suggesting that governments should interfere in bank investment decisions? Sounds a bit Communist. Banks made decisions based upon risk versus return and coal-fired electricity generation is environmentally unsustainable.
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“coal-fired electricity generation is environmentally unsustainable.”
You really do hate plants, don’t you.
Why?
Possibilities abound.
And modern coal plants are pretty good, after all.
But you’ve been told that.
Have you told the Chinese, or might that interfere with ‘credits’?
Auto
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The bank isn’t being asked to lend money to a risky borrower. It is being asked to issue a bank guarantee and the business has offered to stump up the cash to the value of the guarantee so there is no risk. So your risk vs return argument falls flat given there wouldn’t be a guarantee with less risk.
How about the bank consider the risk to its other borrowers who may not be able to repay when business and employment is affected by an unstable electricity supply?
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Issuing guarantees is a risk to the bank. Maybe the legislation states that the guarantee has to be an Australian bank? Normally any reputable international bank would suffice. A Czech owned company may be viewed as additional risk by the regulator but I would have thought it would be treated the same as any other EU country.
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Issuing guarantees is usually done by a bank against assets that the bank would have to liquidate to recover. The value of assets can change and the process of liquidation can produce a value less than the original valuation. Hence the risk.
However, in this instance the business was offering cash as security. There is no risk.
The regulations require the business provide a bank guarantee. The business has the cash to substitute for the bank guarantee but the regulator is not able to accept cash. It has to be a bank guarantee. So the bank holds the cash and issues the guarantee. What risk? If the business disappears the next day the bank has the money. Less some legal fees to execute the guarantee.
This is a guaranteed profitable opportunity for the bank with no risk and they’re saying no. Bank shareholders should be livid. The opportunity for the bank was one of those “too good to be true situations” that was actually true.
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Simply Simon met a Pie Man on the way to the Fair. Said Simply Simon to the Pie Man, Coal Fired Electricity Generating Plants are bad for the Environment. Simply Simon never did get that pie.
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The government protects the banks from free market competition which would easily fill this gap. When the banks then selectively target legal Australian businesses in an effort to sabotage our electricity grid or change the climate, they are failing in their basic duty. Why should the government protect the traitorous industry? Who does the Government serve?
Who decides what form our electricity grid takes — the bankers or the voters?
If the Labor party won’t be honest and run for election on the promise of closing all coal plants, then allowing the bankers to do it de facto, is the act of liars. Albanese could stop this in five minutes.
If Vales closes, it’s on Albanese’s head. If there are blackouts, it’s his fault. If the AEMO doesn’t tell Australians what is really going on, then they should be sacked too. If the ABC doesn’t report the real situation, sack them. The list is long…
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Simon, see #1.1.1
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They definitely should interfere in bank investment decisions. Particularly if those investment decisions have a bearing on Australia’s economy. Australia has a natural borne advantage in hydrocarbon fuels. ( coal, gas, oil ) An advantage that a lot of foreign countries would love to have. Yet we almost give them away without yielding appropriate royalties. Plus, we should have the cheapest electricity in the world, mostly produced by coal, which should underpin a vibrant manufacturing economy and minimal cost of living pressures. It’s another one of those areas where the Liberal National Party were asleep at the wheel. Soon as ESG was mentioned in banking circles, the politicians and bureaucrats should have placed all the major banks in one room and gently warned them of consequences of adopting these policies full time. But they didn’t. In fact, the opposite. By adopting Net Zero, they actually encouraged it.
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Speaking of natural advantage….
https://youtube.com/watch?v=qR-IklrN7vA&si=PW1rsrg6CbCmUy_n
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That’s Hillaryarius Simon.
Jo’s outline, based on the prompts from Bally and Rick, clearly shows that generator ownership, not the coal fired aspect is a big factor in what’s happening.
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I see that our Simon still wants to destroy our economy and destroy thousands of klms of our wilderness areas for a guaranteed zero return on his loony investment.
And yes he definitely believes we should waste trillions of $ for SFA change and all because of his crazy claims about his so called dangerous CC. Unbelievable but true.
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and fiat currency is economically unsustainable,
but that banks have no problem with that
(and do you really think the banks care a tinker’s fart for what is “environmentally unsustainable”)
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Are you suggesting that banks should be free to interfere with government infrastructure decisions?
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Simon, #3,
____David, izzat you?
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Do you ever bother reading the article?
It clearly stated that Delta are not asking for a loan, therefore no “bank investment decision” is involved here. Delta have plenty of cash … they are merely jumping through hoops with compliance rules that require a bank signs off to say Delta are in good financial shape.
If you had any understanding of the background, you would know that banking in Australia is a heavily regulated industry and has been government supervised in its current form since 1959. Every bank in Australia is by law required to be a corporation and required to get a banking licence from APRA. They are also supervised by ASIC and follow a mandatory Banking Code of Practice. Even the use of certain “banking words” is tightly restricted in Australia.
Since you have never complained about this heavy handed regulation, you obviously have no problem with something that “sounds a bit Communist” although it would also be a fair presumption that you simply have no idea what you are talking about.
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By the way, the introduction to the Banking Code of Practice as it currently stands is reproduced below.
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Here are their most fundamental guiding principles. Not something I imposed on them … not a special favour to Delta … we just want them to follow their own rules.
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It’s working –
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Good, important article. But disappointing to see the pejorative phrase “fossil fuels” being used here.
That was concocted by far-Left green activists decades ago to make natural fuels seem irrelevant, bad, dead, rotted – to vilify them.
Coal, oil, gas and uranium are natural fuels.
The sooner we counter the Left’s bullying on language, the sooner we win.
They come from nature. They are natural fuels.
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Ardy, agree. The only fossil fuel is coal which starts with plants falling into water forming peat bogs which is happening now. Coal is then transformed by heat and pressure. Anthracite is formed in some areas (eg Vietnam) by volcanic activity providing lots of heat.
Natural gas is just that look to Titan a moon of Saturn, where methane acts like water on Earth. Methane on Earth is formed at plate boundaries and moves under the mantle. It is not a fossil fuel.
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Actually Ardy, it was believed that Rockefeller himself coined the descriptor “fossil fuels” , way back at the inception of the oil industry. It was thought he was trying to create an illusion about their scarcity and therefore increasing the price of the natural sourced product.
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Thanks again Jo for trying to help us understand how stupid our bankers are today.
We know these same banks are happy to lend to clueless , toxic W & S ventures that only have very short operating periods of 15 to 20 years and then the entire mess is torn down and buried in land fill.
And their capacity factors are only an average 15% to 30% and sometimes toxic W & S energy disappears for days.
Even Dr Finkel admits that stopping all our Aussie co2 emissions today cannot change our weather or climate at all. Big surprise NOT.
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Another concern about our stupid banks are that they don’t even care enough to understand our rainfall data over the last 123 years.
Australia is the driest continent on Earth but overall our rainfall has certainly improved a lot since 1970.
And Australia and our planet are greening because of the extra co2 emissions and this can only be beneficial for farmers and improve all of our lives.
http://www.bom.gov.au/cgi-bin/climate/change/timeseries.cgi?graph=rranom&area=aus&season=0112&ave_yr=8&ave_period=6190
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What age are these bankers? My bet is GenX age. Since they’ve come to corporate power things seem to have gone downhill. Once I noticed banks and energy companies had gone woke, I found it very depressing. They used to be the saviour from all the nonsense. Then they became it.
Younger rightwing people love to hassle the Boomers for ruining everything, but my theory is my generation, GenX is far worse. We were the first generation to be educated that white people are more or less evil and the environment is going to die. Sure, Boomer leftist teachers, but GenX really picked up the baton and ran with it, and time put them in power.
I noticed the crowd at CPAC last week was all elderly Boomer age. To me the Boomer’s are the keel to a very shaky yacht.
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Let the grid cash!
It’s the only way the Sheeple will wake up to this insanity.
Let’s not have the long drawn-out misery we are experiencing now which is only going to end in Australia becoming a second or third world country.
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You ever watched a cat play with a mouse? Cruella DeVille comes to mind.
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I am amused that leftards, who only yesterday demanded strict regulation of banks, now wish them to be able to run free.
And that those same leftards, who claimed to work for the interests of the working class, now work actively to destroy them.
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Gee you’re nice.
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Gosh Yesh.
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I know, but thanks anyway.
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I guess that is they way to play when you have nothing else
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I appreciate you have a different outlook to people you regard as being on the “left”. But it’s good for those of the “left” who could benefit from reading Jo’s blog posts to feel welcome when doing so. Otherwise they’re likely to move on.
An exchange of ideas rather than insults.
Something for all of us to keep in mind.
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‘Otherwise they’re likely to move on.’
Unfortunately that is the case.
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These are good, mature, appropriate, high minded sentiments.
I’ve observed the climate ‘Science’ debate for at least a decade.
Most here, engage in serious exchange, posting links to actual science, and inviting critique.
Result …
Net Zero madness is destroying us, and college students throw paint on priceless historical artifacts.
We are being (have been) overrun by a mindless hoard fueled by irrational anti-human apocalyptic quasi-religious zeal.
To the point where most Western governments are actively taking steps to criminalize the debate for which you express justified, honorable, but possibly anachronistic admiration.
So, forgive me if your gentlemanly protestations fail to persuade.
I’m too busy worrying about the cost and distribution of food, water, and fuel being controlled by people that hate humanity.
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Nothing like a mod filter to bolster my assertion.
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Given your first line it’s clear you know what the right thing is. Odd that you can’t be persuaded to do what’s appropriate.
Not so busy worrying about those things that you don’t have time to defend insulting people. Even though you know not doing so would be the appropriate thing.
The issues you raise are valid. It’s enough to easily frustrate us into using insulting labels. Those issues also highlight why it’s important to have more people listen. Some with a differing view will not listen or can’t have their opinion changed, such as the paint throwers. But for those who are a chance of listening and changing their mind on issues are also not going to listen when confronted with insults.
To be clear. It’s only the word “leftard” that ruins the comment. I’m not suggesting there’s anything wrong with the gist of John’s comment.
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I think it demeans the person writing it. “Leftard” is just childish rhetoric with no discursive value except to annoy and inflame. I can’t see anyone changing their mind when words like that are used because it taints the whole comment as not being serious.
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Lefties are welcome and do exist here as far as I can tell. More than one or two. But you have to admit that it is the left who have picked up the climate change madness and run with it, they started banging the drum, and the whole concept is made of leftist theory. So, a bit of lefty bashing is to be expected. Swim in an ocean expect a shark. They shouldn’t really cry too much but should fill up on information and try and persuade other Labor voters to stop supporting the Greens, (and hopefully stop voting Labor altogether – because as Boambee John says, the left are the enemy of the poor and working class)
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More proof that we’ve all improved our standard of living since 1900 and now have a lot more to eat , thanks to the small increase in atmospheric co2. Just choose the crop.
You can choose the crop increases in tonnes per hectare for the world and some countries that I’ve listed.
The OWI Data graphs are active and you can highlight the world increase by using your mouse.
Again, why wouldn’t the banks be very keen to loan money to increase reliable,coal generation for our future prosperity?
https://ourworldindata.org/explorers/crop-yields?facet=none&hideControls=false&Crop=Wheat&Metric=Actual+yield&country=IND~USA~ITA~GBR~LKA~PER~AGO~AUS~OWID_WRL
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The greatest advances in food production over that time were in plant breeding.
That was real, proper science at work.
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He could but he won’t because he is a Trotskyite socialist. His unstated manifesto is to wreck the Australian economy in order to produce a majority population of modern day serfs who will be exploited by bankster and government elites. The big mistaken assumption people make is that Albanese is ruining our economy because he’s inept. On the contrary, his actions are according to a management plan from his bankster masters.
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Albanese is going the same way as our grid and becoming more unstable each day . .
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It is actually the responsibility of APRA to resolve the complaint.
First step would be to demand transparency from every bank as to the reason for refusal … then demand that APRA answer as to why the banks are acting in collusion.
At least in theory APRA operates independently of the government … although we all know “independence” is not really what it claims but at any rate they will be under pressure to keep up appearances.
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There are Asian banks who would open an account for a Vales Point guarantee, especially since it is profitable and without risk for the size of the guarantee. (I’ve been on recent DD teams for such banks).
The problem for Vales Point is obvious, however. All an interested buyer with a bank account acceptable to AEMO (and I agree that is itself a risk since the bureaucracy cannot be trusted) has to do is wait … Vales Point will of necessity become a distressed sale.
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Foreign banks cannot operate within Australia until they get a banking licence, and I believe they are required to keep at least one operational branch inside Australia … there are then regular reports and paperwork to be delivered.
Since this process is expensive, they might not do it for a single client … although the same debanking trick was pulled on Whitehaven Coal, so that’s probably going to guarantee two clients.
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So where will the lost 4% (1320 MW) come from ?
You can bet we will all pay more for a less stable supply.
And just to satisfy the fantasies of the green ideology . .
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NZ’s hydro lakes are now overflowing at 110% or some magic ‘positive’ number after our ‘wettest spring’ since the last one, yet the poobahs that be, ie. State-Owned Enterprises, are advising its owners (us) we’ll have to pay more as the grid is so ‘unstable’ because, ooh let me remember, renewable reliable future-proofing clean green wind solar free something-or-other. Card tricks and board games were never my forte.
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Surely, this is collusion of the most vile type! Squeeze the poor people until they bleed! Where’s Albo and co when you need them? Hiding from public view just prior to an election smacks of Bidenism!
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The person that writes the bank’s advertising is not the same person that writes the loans.
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You would think that hidden somewhere in the early laws of this country is something that would make it a crime for a cartel to organize to carry out an act that would do damage to the nations economy and the nations critical infrastructure ?
Maybe someone with the legal resources could organize a class action against the banks ?
Alternately stand back and let the grid go all black . They would learn the HARD way just how long it takes to restart the grid after such a crash .
A week with no power would make life not so rosy for the green voting inner city hypocrites !
Out in the bush , I have a generator and tank water and so could survive a week without mains power and water . How would those living in city apartments go ?
Scroll down to the table and see how VP has been a trouper in keeping the grid alive when wind and solar fail :
http://nemlog.com.au/gen/region/nsw/
Without coal there would be severe load shedding during the evenings :
https://www.nem-watch.info/widgets/reneweconomy/
Keep an eye on this and notice how often the wind farms sit there and do nothing , sometimes for days .
But when wind and solar come alive , the generators that we rely on to keep the grid alive have to forgo profit so that the rent-seekers and oligarchs can get rich !
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The banks are hostages . The hedge funds can destroy financial institutions and force them into compliance . Selling off shares in a bank and tanking their share price is easy – then using the captured media to start a run on them finishes the job . The stock market is still rising driven by debt fueled spending and that’s going to hit reality eventually . If only the government would bail out worthwhile (and profitable) assets instead of boondoggles….
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“If only the government would …get the sh1t out of business and the economy and leave it to private capital! No bail-outs, no subsidies, no trade missions, no Dept of Business, no wage-setting, and completely transparent paperwork on all Govt contracts..
Just represent Australia as a political entity in the world.
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So why do the stupid banks hate us so much? And why are the banks so ignorant about Human history over the last 300,000 years?
For 99.9% of that time Humans lived very short and brutal lives and life expectancy was under 30 years.
Today we’ve extended that average life expectancy to about 71 years and 80 + years in many wealthy OECD countries.
So far most countries today generate their energy from reliable fossil fuels and the Industrial ( coal) Revolution was started in the UK about 250 years ago and Human life expectancy had already increased to 46.5 years by 1950. See OWI Data, using the UN data.
The average per capita GDP has soared over the last 200 years and much higher since 1950.
So why would any sane Govts or Banks want to destroy our lives and environments at an horrendous cost of Trillions of $ for very short term unreliable energy and replace the entire toxic mess every 15 to 20 years?
Has anyone got any ideas why they’ve abruptly turned on their citizens, when the evidence easily proves that they’re wrong?
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They have turned on their Citizens as they have been brainwashed into believing that CO2 is a problem and not a gift. The Climate Alarmists and UN and Deep State/Davos have done their business.
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I think the headline needs work
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Delta should just write to their suppliers and the transmitters to advise that due to inability to effectively secure electronic transactions, all payments would now need to be made and received in Cash
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Did you read the article?
The current rules require the use of a bank … this is what they are attempting to get changed.
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I understand Brics are setting up an alternative banking system. I can’t wait for it to be available for us to use.
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Hahaha! It will be described as terrorist orientated and banned for anyone in the Yank’s power..
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The banking system we want is the one Elon may set up with X.
He did start paypal.
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“But AGL and Origin Energy own coal plants and they aren’t begging for a rule change. Do they get a free pass from the bankers because they also own unreliable generators too”
Well, you’d have to be a fly on the wall in a private bar at some very expensive, exclusive 19th hole to hear those energy providers who have a few wank credentials with renewables discussing how to push out the opposition with their bankers.
What’s 5% of the grid energy worth? A new yacht for a banker?
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[…] From JoNova […]
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In the end it’s clear to me that the States have ultimate control over what the electricity grid looks like. I wouldve thought Minz who has already showed a political desire to not have blackouts by keeping Eraring going longer than the original lockdown plan. NSW can surely guarantee Vale’s Point stays open by providing the guarantee or taking over Deltas role. Premiers who cant guarantee supply cant guarantee staying in power. Cristafuli has realised that with his latest policy to keep coal fired power going as long as it takes to transition. The irony is that the activists who have influenced the behaviour of these banks will be thwarted by the desire by premiers and potential premiers to be in power. Bank shareholders will be the ones who miss out on the easy profits available to those who support the non renewable energy generators.
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Sometimes it’s difficult to understand really ….. I mean ….. money making ventures, and how much income there is.
Vales Point coal fired power plant has one unit out of action for maintenance. (scheduled)
So, it only has one Unit running.
Across 15 hours from (around) 3.30PM, in the run up to the usual evening Peak for power consumption. that Unit ran up to its current maximum power, and for the next 15 hours, it delivered an average of 610MW.
For those 15 hours, the operator of that plant was paid (for the delivery of that power to the NSW grid) $480,000.
Only three power plants in NSW were paid more over those 15 hours. (Bayswater, Eraring, and Mt. Piper, umm, all coal fired power plants)
Okay, keep in mind the average of that 610MW from that ….. ONE unit at Vales Point.
There are (now) TWENTY Industrial wind plants in NSW,
Across that same 15 hour period, ALL of those wind plants (2822MW total Nameplate versus 660MW of Vales Point) averaged just 507MW power delivery, and were paid the same amount of dollars/MWH so $395,000 in total.
So, those 20 wind plants shared their portion of that $395K, while Vales Point got all of their $480K.
Surely the ‘banksters’ must see something like that, eh!
Tony.
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They are replacing what’s profitable with what they think looks good , in their ESG dogma addled brains.
How this is in the shareholders interest remains a mystery.
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