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Will coal fired power stations result in climate disaster?
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Will coal fired power stations result in climate disaster?
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Will coal fired power stations result in climate disaster?
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Will coal fired power stations result in climate disaster?
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4 February 2021
More than $1 billion has been wiped off the value of Queensland government owned coal and gas generators, as falling electricity demand and the growth of wind and solar slash profits, with the Queensland Audit Office warning that further cuts are in store.
A new report published by the Queensland Audit Office has detailed how more than $1 billion has been wiped off the value of Queensland government owned fossil fueled generators, as falling wholesale electricity prices slash generator profits.
The Queensland Audit Office conducts regular reviews of various state government owned entities, finding that while the state’s network and energy retail businesses remained comparatively stable, the state’s fossil fuel generators faced ongoing cuts to profits.