“Let me be really clear about something. We need to ensure that our coal-fired generation of electricity runs to its life because if it doesn’t electricity prices go up. They don’t go down,” Mr Morrison told media in Tasmania,where he announced a new fund for the plantation timber industry.
“Our government is very committed to ensure we sweat those assets for their life,to ensure that businesses can get access to the electricity and energy that they need at affordable prices to keep people in jobs. And what’s essential is that we get the balance right with our energy policy.”
Earlier this monthAGL said it would bring forward closure at two of its plants by several years,andOrigin announced it would close its huge Eraring plant seven years ahead of schedule.
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Mr Cannon-Brookes told ABC radio on Monday morning the influx of renewables would drive prices down,and he believes Australia can have the world’s cheapest electricity in the future.
Cheap renewable power has flooded into the grid over the past decade,undercutting coal power’s business model and retail power prices hit record lows last year. Mr Cannon-Brookes said more renewables would keep prices down.
Renewables need backup “dispatchable” power that can be called on at a moment’s notice to fill supply gaps when the sun isn’t shining or wind isn’t blowing.