‘Extreme Risk’: Hot Water Company Says Electricity Grid Not Ready for Net Zero

One of Australia’s oldest manufacturers of hot water system suppliers, Dux Hot Water, has warned a Senate inquiry that demand for electricity will increase faster than projections meaning moves to shut down coal-fired power stations were risky for the stability of the grid. When it was acquired by Noritz in 2015, the Japanese company said Dux had an annual turnover of around $70 million (US$45.8 million). It is the oldest water heater manufacturer in Australia, and provides a full range of electric water heaters encompassing electric storage, gas storage, gas continuous flow, solar, heat pump, and commercial water heaters. In its submission to the Senate Economics References Committee Inquiry into Residential Electrification, Dux said it “fully supports the government’s net zero emissions by 2050 target” but it believes the Australian Energy Market Operator’s (AEMO) estimate for how much electricity the country uses is too conservative....