Minister ‘conning’ voters on Yallourn
Victoria faces pressure to extend the Yallourn coal plant amid pressures on the power grid.
Victoria faces pressure to extend the Yallourn coal plant amid pressures on the power grid.
The projected gas shortfall for Australia’s eastern seaboard has been pushed back to 2029 thanks to producers increasing supply, the Australian Energy Market Operator says.
Plans to extend the life of the Yallourn coal power station in Victoria would allay a fresh warning over gas supplies amid concerns over reliability gaps in the power grid.
One of Australia’s biggest coal power stations is set to stay open for four more years, in an extraordinary reversal for the state Labor government’s renewable energy-only blueprint.
The dominant source of gas to Australia’s east coast could be handed a lifeline after Exxon and Woodside approved a $350m drilling campaign to deliver new supplies from the Bass Strait.
Australia’s east coast is on course to experience a looming gas shortage, and the Australian Energy Market Operator may be given the unenviable task of preventing it.
Chris Bowen says the Coalition’s plan to keep coal in the system for longer will lead to even higher costs, backing Labor’s massive expansion of renewables despite business calls to slow it down.
The energy regulator’s price ruling will intensify pressure on cash-strapped households and the Albanese government as the federal election edges closer. But Chris Bowen blames the coal industry for the rises.
The decision means further delays to a project already behind schedule, but Snowy Hydro can ill-afford to lose the support of its 700-strong workforce.
Kevin Gallagher is the latest energy industry executive to urge Australia to follow the US lead and embrace the comparative advantage of abundant gas reserves.
Original URL: https://www.theaustralian.com.au/author/colin-packham