Energy Efficiency

Jackgreen was Australia’s largest specialist ‘renewable energy’ retailer (of course there is no such thing as renewable energy).

However, they went into voluntary administration a week before Christmas after failing to pay a $500,000 bill to the NSW government-owned Integral Energy and other creditors include Origin Energy, AGL Energy, Country Energy and Queensland supplier Energex [Energex have long sold alternative energy at a premium but have never had the number of suppliers to provide promised alternative energy, but hey ... thats the business of profit].

Jackgreen had a staff of nearly 100, who have been sacked and Jackgreen shares that traded at 3.8c before the collapse, are now worthless.

Since Jackgreen’s retail licence was revoked on December 18 and receivers were appointed by the group’s major secured creditor (owed about $11 million), Jackgreen’s accounts showed it’s owed about $25 million in unpaid bills by customers.

Is this just another get rich scheme by people manipulating the federal and state governments going through the motions by splashing cash (stimuli) to companies trading on people’s good faith and paying for alternative energy that never really existed; how will these energy suppliers maintain their ‘green credentials’ if they now have to prove the source rather than buy it from a third party?

Jackgreen did not generate power, it just specialised in selling renewable electricity from cheap methods such as hydro generation, rather than more expensive options such as solar or wind.

So while the public interest in green power generation grows, or may one suggest that like the Victorian ‘green energy’ (buring old growth counts under some morally corrupt interpretations), Jackgreen and other companies of its ilk (like the thermal power) last only long enough to take investor’s money and then going belly up.

It will be interesting if someone could research the names behind these various ‘unlucky’ companies.