to keep some of an ageing gas plant open for an additional three years may not be quite the energy revolution its most influential minority shareholder, Mike Cannon-Brookes, has in mind.
Ahead of the election, Premier Daniel Andrews is instead heavily promoting his plan to create a 51 per cent state-owned State Electricity Commission to end “gouging” by greedy private sector energy companies. Origin Energy has announced the 2025 closure of its coal-fired Eraring power station in NSW seven years ahead of schedule and AGL is closing its NSW Liddell coal-fired plant next year as part of the transition to renewables.But sufficient supplies of renewable energy backed by alternative firming power – like batteries or pumped hydro – are not yet adequate or reliable enough to fill the gap.
Federal Labor – along with the NSW Liberal government – was also opposed to the Coalition building a new Kurri-Kurri gas-fired power station in NSW, arguing renewable energy was cheaper and better. That was until Labor decided this endangered its own election calculations in the NSW Hunter Valley. It instead backed the Kurri-Kurri construction on the vague condition it should use as much green hydrogen as possible.
According to AGL’s chief operating officer Marcus Brokhof, the company believes in gas as a transition fuel but cannot afford to keep losing money on its Torrens Island B facility.
That’s exactly what he had in mind. Get even more wealthy through taxpayer dollars.
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