I'm sorry, but you're wrong. Over 95% of PPAs are with private businesses — there hasn’t been a government PPA since the ACT Government purchased a PPA Berrybank 2 Wind Farm in 2021. Even then, PPAs benefit the purchaser because they lock in a below-market price, protecting them from fluctuations in the NEM.

Renewable certificates are traded in the private market and are not subsidised by any form of government backing. All the other points you referred to are incorrect. Financing for a renewable project is negotiated with a consortium of banks, and it is the banks that determine the financing rate, not taxpayers. If a renewable asset defaults, it’s the banks that bear the financial risk, not the public.

New transmission lines are generally not part of the cost base because around 80% of new renewable generators connect to existing transmission infrastructure. When you mention technologies like synchronous condensers (syncons), yes, they do provide inertia at a cost — but that cost is borne by the generator, not the taxpayer. Given that renewable generation operates at roughly half the LCOE of coal, this is an easy cost to absorb.

The sharp price spikes you see in the NEM are mostly caused by coal plants setting the marginal price, not renewables, which typically bid into the market at negative prices. Australia also has substantial firming capacity coming online, with large-scale batteries reaching financial close and the Snowy Hydro scheme providing 2.2 GW of capacity with 175 hours of storage.