For one thing, Dutton’s hopes of locating nuclear plants on sites such as AGL’s old coal grounds won’t fly, says Nicks, who oversees Australia’s biggest coal-fired power generator and largest carbon emitter. He plans to add 12 gigawatts of renewable and firming generation by 2035., Nicks says nuclear energy has no place on AGL’s land. He warns there is “no viable schedule” for the regulation or development of the technology.
But the bold idea lands squarely in a political sweet spot where all sides have an incentive to lean-in rather than trash.Embedding household solar and batteries further across suburbia would immediately cut bills. Another benefit, as Kerry Schott toldon Monday, is that it alleviates the need for thousands of kilometres of new grid infrastructure, which Labor needs to meet its 82 per cent renewables target.
“Policy certainty is important for companies like AGL and ongoing debate on the matter runs the risk of unnecessarily complicating the long-term investment decisions necessary for the energy transition,” says Nicks.this week is understood to have surprised some Nationals, who for almost two years argued in favour of more modest so-called small modular reactors.
Because the technology won’t be available in the next five or even 10 years, the Coalition’s shift would mean more coal and gas would burn in the interim.
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Source: FinancialReview - 🏆 2. / 90 Read more »