Energy Minister Angus Taylor says gas-fired power is "flexible, dispatchable, can bring prices down and can keep the lights on" which is why the government has invested in the 660-megawatt generator in the Hunter Valley.
"We've got to get new capacity into the market; preferably flexible capacity, so something that can be turned on and off quickly, and that's why gas generation is so attractive under these circumstances," he said.
"Energy Australia has invested in a 300-megawatt generator in the Illawarra. so the two combined can ensure we've covered the market for the closure of Liddell but there will need to be more capacity coming in the lead up to 2030."
Angus Taylor should let the private sector lead energy transition
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From homeless to CEO: Dog days are over for LPE boss
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2 leading ASX dividend shares rated as buys by brokers
2 leading ASX dividend shares rated as buys by brokers
These 2 leading ASX dividend shares have been rated as buys by brokers like property business Aventus Group (ASX:AVN).
Tristan Harrison has been a contributor to The Motley Fool since October 2016. He has an advanced diploma from the Association of Accounting Technicians (UK) and is currently studying to be a Chartered Institute Management Accountant. Tristan s goal is to help Australians learn about the great businesses listed on the ASX that will help grow their portfolio, wealth and confidence about investments over the long term. He s a keen tennis fan and can t wait for the next Australian Open to roll around.