A good reason to get rid of coal – Australia’s “over-supply” of energy
Audio: Australia faces unprecedented oversupply of energy, no new energy generation needed for 10 years: report, ABC Radio The World Today 8 Aug 14 By David Mark South-eastern Australia will not need to ramp up energy generation for the next 10 years, even under a worst-case scenario, a report says.
The Australian Energy Market Operator (AEMO) report says Australia is facing an energy glut never before seen in the history of the national electricity market.
It raises serious questions about the ongoing viability of existing coal-fired power stations, but might also result in more pressure on the Federal Government to reduce the Renewable Energy Target (RET)……….
Electricity use in Australia has been falling now for about four years due to the take-up of rooftop solar systems, greater use of energy-efficient appliances and the downturn in some manufacturing industries that use lots of electricity.
The principal consultant of energy strategies with Pitt and Sherry, Hugh Sadler, says the upshot is that if the coal-fired power stations want to stay running, they will be competing in a buyer’s market.
“Many of them will have to trade unprofitably as many of them already have been doing for the last year or two,” Mr Sadler said.
Just last week energy company HRL announced it would close a small coal-fired power station in Victoria’s La Trobe Valley……..http://www.abc.net.au/news/2014-08-08/australia-faces-unprecedented-oversupply-of-energy-report-says/5658926
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