Morrison’s gas fired power play sparks investment warnings

Australia’s power industry has hit out at the Morrison government’s plan for a taxpayer-funded gas-fired generator, describing it as an unnecessary market intervention that risks derailing vital future investments needed to transition the energy grid.

The Australian Energy Council, representing the nation’s big power suppliers including AGL, Origin and EnergyAustralia, on Wednesday immediately warned that the rising tide of government intervention in the market was deterring the very private investment Mr Taylor says is needed. She cited recent interventions including a NSW government energy plan to bring on more renewables, and its funding support for EnergyAustralia’s Tallawarra gas plant, which is now set to contribute 316 megawatts of dispatchable capacity by the Summer of 2023.It was “still not clear” why an additional 1000 megawatts of capacity was needed to compensate for the closure of Liddell, Ms McNamara said, adding: “The market operator’s analysis does not support that assertion.

“This is a good day for jobs. It will create jobs during construction of course and ongoing jobs but importantly the jobs of all of those workers who rely on affordable, reliable energy for their living, for their businesses.” Labor climate change and energy spokesman Chris Bowen said he supported gas as a back-up for renewables, but the Kurri Kurri project “isn’t justified by the economics”.

NickToscano1 micksfoley p_hannam Lower prices with expensive gas ... which world are these ppl living in?

NickToscano1 micksfoley p_hannam It’s called base load security, Rag. Someone should stone you with 50 mm hail to show the vulnerability of renewables.

NickToscano1 micksfoley p_hannam Here we go again!

NickToscano1 micksfoley p_hannam At last well done to the Morris gov looking out for the majority not the loonie left minority

NickToscano1 micksfoley p_hannam Good decision. Now remove subsidies. (Alan Moran)

NickToscano1 micksfoley p_hannam ...that feeling when every decision you make is a bad one! LNP decision making seems stuck in an endless cycle of inept / corrupt / morally bankrupt.

NickToscano1 micksfoley p_hannam We need a new Government urgently

NickToscano1 micksfoley p_hannam More Taxpayers money for Morrison’s wealthy mates

NickToscano1 micksfoley p_hannam “Silly” is very polite....I can think of a few other adjectives

NickToscano1 micksfoley p_hannam Take it to an election I say..

NickToscano1 micksfoley p_hannam Farrkwits .... 🇦🇺💩🇦🇺

NickToscano1 micksfoley p_hannam By now decent Australians especially in private sector should realise we have a useless quick draw McGraw PM and dysfunctional cabinet unable to execute any major issues except harm national interest ,a pariah internationally Do not donate money to this dysfunctional Lib party

NickToscano1 micksfoley p_hannam Let the suckers come forward and invest. Say good buy to small profits from super and welcome the big money gains from gas utilities.

NickToscano1 micksfoley p_hannam Mates getting rich

NickToscano1 micksfoley p_hannam It's the Blockbuster of Energy plans!

NickToscano1 micksfoley p_hannam There’s no stopping the PM of Innovation and Technology Advancement.

NickToscano1 micksfoley p_hannam Greasing corporate mates hands more like

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Morrison government bankrolls $600m Hunter Valley gas plantThe Morrison government will direct its Snowy Hydro power corporation to build a $600 million gas-fired power plant in the Hunter Valley, ignoring calls that the investment is unneeded. npomalley p_hannam Follow the money. Assholes npomalley p_hannam PISSING. MONEY. UP. THE. WALL. npomalley p_hannam Report from the International Energy Agency No new coalmines-oil or gas fields should be opened if the world is to reach net-zero emissions by 2050 2: Prof Julian Allwood: stop flying Airplanes /prof-julian-allwood-the-only-way-to
Source: smh - 🏆 6. / 80 Read more »

Morrison government bankrolls $600m Hunter Valley gas plantThe federal government will direct its Snowy Hydro power corporation to build a $600 million gas-fired power plant in the Hunter Valley, ignoring calls that the investment isn't needed. AngusTaylorMP says the plant will fill a gap in the market.
Source: theage - 🏆 8. / 77 Read more »

Hunter gas power plant about ensuring Australia ‘can compete globally’ | Sky News AustraliaAgriculture Minister David Littleproud says the Morrison government’s $600 million investment in a gas power plant in the Hunter region is about ensuring Australia “can compete globally.' \n\nThe Morrison government plans to build a 660-megawatt gas power plant in the Hunter Valley in a bid to prevent the cost of energy skyrocketing.\n\nMr Littleproud told Sky News the “significant investment” in supporting the nation’s growing economy would “complement” coal and not accelerate its demise. \n\n“With the shutdown of Liddell, it’s estimated that energy prices would go up by 30 per cent - that’s not just for households, that’s also for business, manufacturing,” he said.\n\n“When there’s pressures on manufacturing we need more sovereign capability. \n\n“This is about maintaining prices, keeping them low, making sure we’re competitive.\n\n“So this investment is making sure Australia can compete globally using the new technology as ... we will continue also with the coal sector in carbon capture storage.'\n D_LittleproudMP The LNP hide behind the PRIVATE SECTOR (free market) who said NO to new fossil fuel sites. The always POLITICALLY driven Morrison uses our money to do it - spitting on liberal ideology. New mines corrupt net zero. The LNP (ab)using $600M of TAXPAYER MONEY in NSW Hunter. LNP vs 🌏 D_LittleproudMP Compete with an outdated and expensive project? Good joke! D_LittleproudMP Littleproud is makin little sense. Stop getting him to comment on matters outside his portfolio. What is he gonna do with the NSW mice plaque which now has spread to SA and QLD? Some farmers hv had their entire harvest destroyed. Auspol miceplague
Source: SkyNewsAust - 🏆 7. / 78 Read more »