Antinuclear

AGL Energy to shut all coal power stations by 2050

Australian energy firm AGL to shut all coal power stations by 2050  About-face after buying coal power stations in 2014

*Will add to pressure on Australia’s coal industry

* Environmental lobby sceptical (Adds reaction from environmentalists, background)

By Byron Kaye SYDNEY, April 17 (Reuters) – AGL Energy Ltd, Australia’s No.2 power retailer and its biggest carbon polluter, said on Friday it would not buy any more coal-fired power stations and would close all its existing coal-fired power plants by 2050.

The company, which became Australia’s biggest owner of coal-fired power stations when it bought two plants from New South Wales state for A$1.5 billion ($1.17 billion) in 2014, announced the apparent about-face in a new “greenhouse gas policy”.

Although the shutdowns may be far in the future, the AGL policy introduces a domestic element to a slowdown already confronting the Australian coal industry as exports to Chinadrop and that country shifts towards cleaner energy options………

However, the move won only grudging praise from environmentalists.

“It’s good that they’re finally listening to the nine out of 10 Australians who want more renewable energy but it’s a shame that they’re going to keep pumping carbon into the atmosphere until 2050, when most of their dirty power plants would have been shut anyway,” said James Grugeon, director of market impacts at GetUp!, an activist group.  “It’s a step forward after several steps backwards.”……..http://www.reuters.com/article/2015/04/17/agl-energy-coal-idUSL4N0XE1Q320150417

April 18, 2015 - Posted by Christina Macpherson | General News