Queensland s state owned coal plants may never again be profitable, new analysis finds reneweconomy.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reneweconomy.com.au Daily Mail and Mail on Sunday newspapers.
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Government-owned firms like Snowy Hydro can do better than building $600 million gas plants
The Morrison government today announced it’s building a new gas power plant in the Hunter Valley, committing up to A$600 million for the government-owned corporation Snowy Hydro to construct the project.
Author Visiting Researcher, Climate and Energy College, The University of Melbourne
Critics argue the plant is inconsistent with the latest climate science. And a new report by the International Energy Agency has warned no new fossil fuel projects should be funded if we’re to avoid catastrophic climate change.
The move is also inconsistent with research showing government-owned companies can help drive clean energy innovation. Such companies are often branded as uncompetitive, stuck in the past and unable to innovate. But in fact, they’re sometimes better suited than private firms to take investment risks and test speculative technologies.
Government-owned firms like Snowy Hydro can do better than building $600 million gas plants theconversation.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theconversation.com Daily Mail and Mail on Sunday newspapers.