Government intervention is complicating renewable energy revolution
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Government intervention in the energy market is making the breakneck transition from fossil fuels to renewables even more challenging as investors warn that taxpayer subsidies for new gas power projects are squeezing out private industry.
The NSW government on Tuesday announced $78 million to support Energy Australia building the first hydrogen-ready gas power plant at its Tallawarra site on Lake Illawarra, with the Morrison government tipping in $5 million.
The Tallawarra B plant will lie next to EnergyAustralia’s existing power station in NSW.
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