Business
No amount of government subsidies can halt decline of gas – RenewEconomy
Coal and the more expensive gas can’t compete against cheaper renewables, and the Coalition’s gas-fired subsidy scheme is wasted money on a declining industry.
Today, the early closure of Yallourn coal-fired power station in Victoria was announced. The closure is four years earlier than anticipated and points to the rapidly changing economics of power production in Australia.
Put simply, coal and the more expensive gas cant compete against cheaper renewables.
EnergyAustralia announced Yallourn will be replaced with a 350 megawatt (MW) giant battery to be completed by 2026, with four hours storage. Batteries are replacing coal, not gas.
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