Close
Close

Published

Synergy blames solar for $450mn loss, hardly an excuse in 2019

  A state-owned energy supplier in a notoriously sunny nation is struggling to adapt to solar power. In September, Synergy, Western Australia’s (WA) energy provider reported a loss of A$656.9 million ($449.96 million), citing the growing uptake of domestic solar to be the cause. It seems Synergy is trying to depict what was an inevitable trend, the popularity of solar, as an unfair surprise. The company will need to be more aggressive with efforts to invest heavily in smart meter and storage infrastructure if this embarrassing situation is to be resolved. Australia seems to be struggling with energy provision all over, as highlighted by a ‘Summer Readiness Report,’ released by the Australian Energy Market Operator (AEMO) this week. The country…

Close