The AEMO has shown that unreliable and risky coal-fired generators can be replaced by renewables, batteries, and gas peaking power.
Last month, leaks emerged suggesting the NSW Electricity Supply and Reliability Review commissioned by the Minns Labor government would recommend taxpayer subsidies to extend the life of Australia’s biggest coal power station, Eraring, on the NSW Central Coast, beyond its closure date of 2025. The recommendation is so contentious that the NSW government has decided to delay its release, originally slated for this month.
Further, AEMO’s step change scenario shows that increased unreliability of coal power plants and coal closures such as Eraring can be more than offset by federal and state government renewable energy transition initiatives currently under way.
Against this backdrop, extending Eraring does not stack up. This would require the NSW government to pay at least $200 million to $400 million a year to its operator in public subsidies, money that should be urgently invested in the state’s energy transition. Utility scale clean energy must also be urgently built. The first half of calendar 2023 saw next to no new utility renewables projects reach close across Australia, putting our 82 per cent renewables by 2030 target at risk.
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