Gas-fired electricity the key to jobs and economic growth: Energy Minister Angus Taylor
Australia is looking to gas-powered electricity as one of the key drivers to power Australia’s recovery from the coronavirus pandemic.
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Gas-powered electricity has grown by a third since 2018 and is now seen as one of the key drivers for jobs and economic growth that will power Australia’s recovery from the coronavirus pandemic.
The 2020 Australian Energy Statistics released on Wednesday also show that more than half of the nation’s power was supplied by coal.
Energy minister Angus Taylor said that despite a two per cent increase in renewable energy the data “demonstrates the continuing importance of coal and the significant and growing reliance on gas to back our significant renewable capacity.”
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On Monday The Daily Telegraph revealed Mr Taylor’s support for approving the long-delayed Narrabri gas project to keep down energy prices and boost jobs.
He backed that with a call today for state and territory governments to unlock more gas “and encourage investment in reliable generation which will put downward pressure on wholesale prices.”
In NSW gas generation has grown by 31 per cent since 2018. Mr Taylor said gas powered electricity was flexible enough to balance the “intermittent” supply of renewable energy.
And he said gas was able to deliver “a secure, reliable and affordable electricity system to power our homes, businesses and industries.
“This has never been more important – particularly as we begin our recovery from the impact of the COVID-19 pandemic,” Mr Taylor said.
“This is why the Australian Government believes a gas-fired recovery will drive jobs and economic growth.”
Record levels of investment also helped pump up the supply of renewable energy with a 46 per cent increase in solar power and a 19 per cent increase in wind power to provide 21 per cent of the nation’s electricity.
“Australia continues to be a world-leader in renewable energy, with ongoing increases in renewable capacity and generation,” Mr Taylor said.
In NSW renewables generated 19 per cent of the electricity with coal fired power stations continuing to underpin the network by supplying almost 80 per cent of all electricity.
Originally published as Gas-fired electricity the key to jobs and economic growth: Energy Minister Angus Taylor
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