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Date Time Government-owned firms like Snowy Hydro can do better than building $600 million gas plants The Morrison government today announced it’s building a new gas power plant in the Hunter Valley, committing up to A$600 million for the government-owned corporation Snowy Hydro to construct the project. Author Visiting Researcher, Climate and Energy College, The University of Melbourne Critics argue the plant is inconsistent with the latest climate science. And a new report by the International Energy Agency has warned no new fossil fuel projects should be funded if we’re to avoid catastrophic climate change. The move is also inconsistent with research showing government-owned companies can help drive clean energy innovation. Such companies are often branded as uncompetitive, stuck in the past and unable to innovate. But in fact, they’re sometimes better suited than private firms to take investment risks and test speculative technologies. ....
Government-owned firms like Snowy Hydro can do better than building $600 million gas plants theconversation.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theconversation.com Daily Mail and Mail on Sunday newspapers.
Origin to close first unit of Australia's biggest coal generator in 2030 reneweconomy.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reneweconomy.com.au Daily Mail and Mail on Sunday newspapers.
Stanwell wonât mothball loss-making coal units May 3, 2021 â 12.00am Save Share Queensland state-owned power company Stanwell Corporation said it wonât be mothballing any generating units from its coal-fired power stations, despite a plunge in wholesale power prices undermining their long-term financial viability. With the energy industry blindsided by the sudden departure of Stanwell chief executive Richard Van Breda last month â following comments he made about the need to transition away from coal â the company said it was still weeks away from appointing an acting CEO. Tarong Power Station, near Kingaroy, has struggled to compete with cheaper renewable energy. Energy experts predicted Stanwell would put some of its generating units in âcold storageâ as wholesale electricity fell to record lows, driven by the rapid influx of renewable energy in the middle of the day hitting the profitability of coal-fired power ....
The leadership upheaval at the country’s electricity providers continues, with Catherine Tanna to step down as EnergyAustralia chief executive on July 1. ....