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How Dodgy Power Grids Are Costing the Australian Economy in 2021?

# Grid Failures Are On The Rise:-

When the power consumption reaches its peak level, so much so that it overtakes the permissible level that the power grid is ideally supposed to hold, then that leads to grid failures that stem from an acute failure of all transmission line, which in extension can cause the whole power network to fall apart, and that’s you get highly irritating, and sometimes threatening power blackouts.

Local power grids in Australia were established decades ago, and haven’t experienced major upgrades over the years, which is simply asking for disaster as our current power consumption levels is nothing compared to what it used to be in the 70s. Therefore, it’s not a surprise that power outages are on the rise, which we shall be coming onto in no time.

# Power Demand Is On The Rise:

Entities such as “improving lifestyles”, “utilization of better technology” “growing population” etc have naturally contributed to inflation in global power demand and the thirst doesn’t seem likely to be quenched anytime soon. We are currently experiencing a golden period of sorts in terms of scientific and technological innovation, but our ceiling might lie based on our ability to produce enough power so as to sustain all of that.

We are currently chewing more than we can swallow, and that is a major problem given the future market trends that all point to a rising trajectory in terms of our electricity consumption rate. If we don’t find a sustainable way to meet our energy demands, then we shall gradually lose the ability to provide basic necessities to the general public, and hence, more and more people will have to stay in the dark for long periods.

# Power Outages Are On The Rise:

As we promised, this is our next topic of discussion. And to be fair to the Ausgrid authorities, the same problem is faced by just about any other country that is a self-proclaimed “economic powerhouse” in the world today. Therefore, major players such as the USA, UK, Canada, Australia, India, etc are all suffering from frequent power outages and the recent trend is far from positive. If anything, these instances are expecting to take a turn for the worse and that’s where the businesses and industries, in general, have to be wary of the impending catastrophe.

# The Heart Of The Problem:

It can have a devastating effect on the economy of the affected areas as businesses will be brought to an immediate halt. The ones that depend on electricity to produce goods will be late on meeting deadlines, and the next step will suffer because of the inability of the previous step. In other words, the domino effect that the power outage causes will affect not just one but all the various sectors and steps in the economy. Numerous businesses are affected in different ways from an outage. It depends on which leading sector they belong to and the industry.

Some examples from the different industries are mentioned below.

1. Agriculture Sector:
this is the particular sector that is at the base of many industries and is usually the first brick in starting the domino effect. Without electricity, farms would go dry as most of the irrigation systems run on electricity and after an outage, if farms are not irrigated properly this could result in no yield. It is not just limited to that, as even if the yield turns out healthy, the goods need to be stored properly as they have a very small shelf-life.

2. Education Sector: The manner in which young pupils learn and teachers teach has come a long way since the early 2000s. Now, thanks to the advent of “Smart Classrooms”, the focus is very much on bringing technology to the fore, and that’s where the dependence on power supply to even study has put us in a position of vulnerability. Not just that, but junior schools with many young kids simply can’t afford of run the risk of going without electricity supply for a single minute as that may lead to panic, chaos, or even worse. Hence it comes as no surprise that just about every school or educational institution has a backup generator in place in preparation for a possible outage whether due to a natural crises or a malfunctioning grid.

3. Information Technology Sector: This particular industry depends entirely on electricity and if there is no electricity, it comes to a complete halt. So much so that all the other industries that depend on it suffer along with it. Various servers that power the website cannot operate. Although; these sectors are mostly prepared to face an outage, they are hardly prepared to face an extreme blackout that might last for a few weeks.

4. Transportation Sector: The transport industry is one that can be heavily affected by a power outage, especially ones that require the help and support of other industries like the IT companies that provide them with GPS facilities that they use to navigate to their destination.

Other industries also naturally make use of high-end gadgets, such as heaters, washers and cleaners, etc and having a backup generator is the common denominator in every budding organization.

# Outages Are Costing The Common Man:-

Outages are costly issues that we as humans have to face on a very frequent basis, costing us billions. There are ways that we can adopt to avoid going through such times. We can have resilient power lines and grid infrastructure that can withstand the harshest conditions and the heaviest demand loads.

It will help us keep the economy running even if it is at a snail's pace rather than being at a complete halt. The various sectors of the economy get affected by an outage, and there is none that is spared because of the dependency on electricity. Almost all the heavy machinery found in industries run on electricity and when these machines do not work the domino effect starts.
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