Transition to renewables will be much harder than people think: Broad
The former boss of Snowy 2.0 describes the intervention into energy markets as ‘madness’ and says consumers are paying the price for past mistakes on industry structure.
A serious lag in the build-out of transmission and firming power to support renewable energy means Australia’s coal power stations will need to stay open for longer to avoid a hit to the national economy, according to energy and water industry veteran Paul Broad.
The former CEO of Snowy Hydro also has big concerns about ownership and intervention by the government in the energy sector, and its failure to prevent the consolidation of the energy supply industry that resulted from the NSW energy privatisations, for which he says consumers are paying the price.
Angela Macdonald-SmithSenior resources writerAngela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com
