Antinuclear

Coal-fired power on the way out in Australia

Dark future ahead for coal-fired power in Australia, news.com.au 9 June 17 AUSTRALIA’S Chief Scientist has predicted a dark future ahead for coal-fired power in coming years and says the country’s not prepared.

AAP AUSTRALIA’S reliance on coal to generate electricity will diminish as conventional power plants reach their use-by date, the country’s chief scientist says.

But the existing market is not equipped to deal with the transition and, if not addressed soon, could impact reliability and security.

Chief Scientist Alan Finkel briefed Prime Minister Malcolm Turnbull and state premiers in Hobart on Friday on his 212-page report into Australia’s electricity market.

He said Australia’s coal fleet is old and coming towards the end of its design life. He predicts generation will decline over the next 30 years…..

Large generators are likely to be replaced by a number of smaller plants, as the cost of wind, large-scale solar, and new gas-fired generators rapidly declines. However, the existing framework “is not well suited to co-ordinating the transition ahead”.

Dr Finkel’s report found pressure could be taken off power prices and reliability of electricity improved if governments can agree on a new national energy policy…….

“Participation is based on low emissions, not technology type,” Dr Finkel said in the report.

“There are no prohibitions, just incentives. It puts downward pressure on prices by bringing that new electricity generation into the market at lowest cost without prematurely displacing existing low-cost generators.”

Reliability could also be improved, and power bills pushed down, by rewarding consumers for playing their part in reducing demand and putting in place their own technologies such as battery storage and rooftop solar, he said.

It is estimated there are more than 1.44 million rooftop solar photovoltaic systems across Australia, with generation expected to rise by 350 per cent over the next 20 years.

Battery storage is expected to take off in popularity, with around 100,000 systems set to be installed nationwide by 2020.

Dr Finkel said the overwhelming message he had received while undertaking the review was a call for a “single, nationally agreed plan to manage the transition to a lower emissions economy”.

“Stakeholders argued that business as usual is not an option. Policy reversals and piecemeal government interventions undermine investor confidence,” he wrote.

Mr Turnbull has said state and federal governments will report back in August as to how Dr Finkel’s findings can be implemented…..

NEW ENERGY TARGET

The new clean energy target — which would provide incentives to low emission generators to enter the market — would replace the existing renewable energy target from 2020, and the federal, state and territory governments would agree to a national emissions reduction trajectory.

Dr Finkel said investors in coal with carbon capture and storage technology could receive incentives under the CET.

But he expected coal-fired generation would decline over the coming three decades and new investment in it was unlikely to be made.

June 9, 2017 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, energy