6 years ago
NEW COAL DELUSION MUST BE STAMPED OUT
THE HON MARK BUTLER MP
The meeting of industry leaders with the Coalition’s backbench energy committee must dispel the Government’s hard right fantasy of building new coal-fired power stations. Dr Kerry Schott, chair of the Energy Security Board, has said “there would be absolutely no way that anybody would be financing a new coal-fired generation plant,” because "the cost of coal is always going to be more than the cost of wind and sun." The Australian Energy Council has called new coal “uninvestable” and said “the industry has no plans to start building new coal-fired power stations.” The big three energy companies have been clear they will not invest in new coal: "The first thing I would say about that is coal is a legacy technology, it's a solution that my grandfather would have built” – Catherine Tanna, EnergyAustralia.
“We do not believe that any private capital will invest in new coal plants” – Andy Vesey, AGL.
“It’s unlikely we'd be an investor in coal," – Frank Calabria, Origin.
Even the Prime Minister’sfavourite energy project, Snowy 2.0, is only viable if more renewables come into the system, and is made more viable as more old coal retires. Paul Broad, CEO of Snowy Hydro has said “From our perspective (new coal) doesn’t stack up.” As long as the Turnbull Government is at war with the future as well as with itself, Australians can expect continued energychaos, and rising pollution. Australia’s energy transformation will be centred on the cheapest generation: renewables and storage, including batteries, pumped hydro, gas peaking plants and demand management. It will not include new coal-fired power stations. Only Labor has a plan to encourage investment in renewables, which will put downward pressure on power prices, create jobs and drive down pollution.
“We do not believe that any private capital will invest in new coal plants” – Andy Vesey, AGL.
“It’s unlikely we'd be an investor in coal," – Frank Calabria, Origin.
Even the Prime Minister’sfavourite energy project, Snowy 2.0, is only viable if more renewables come into the system, and is made more viable as more old coal retires. Paul Broad, CEO of Snowy Hydro has said “From our perspective (new coal) doesn’t stack up.” As long as the Turnbull Government is at war with the future as well as with itself, Australians can expect continued energychaos, and rising pollution. Australia’s energy transformation will be centred on the cheapest generation: renewables and storage, including batteries, pumped hydro, gas peaking plants and demand management. It will not include new coal-fired power stations. Only Labor has a plan to encourage investment in renewables, which will put downward pressure on power prices, create jobs and drive down pollution.