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Renewable energy boom could force coal power to close early, says new report


Renewable energy boom could force coal power to close early, says new report
WedWednesday 24
AGL s Bayswater power station in the NSW Hunter Valley
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An analysis of Australia s energy market has found a number of the nation s coal-fired power stations could be financially unviable by 2025 and at least one may be forced to close early.
Key points:
Coal-fired generation will drop by 28 per cent
Industry acknowledges increasing pressure
The joint report by the Institute for Energy Economics and Financial Analysis (IEEFA) think thank and advisory firm Green Energy Markets attempts to quantify the mounting pressure on coal-fired plants, as a flood of cheaper and more flexible renewable power hits the grid. ....

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S&P/ASX 200 breaks above 6,800 for the first time since late February 2020


S&P/ASX 200 breaks above 6,800 for the first time since late February 2020
Brent crude oil price gained 40 cents to US$56.30 a barrel on expectations that U.S. President Joe Biden’s administration will deliver a massive stimulus spending that will lift fuel demand.
Australia’s unemployment rate came in at 6.6% in December.
S&P/ASX 200 (INDEXASX:XJO) is rising for a third consecutive day with the index 0.68% higher at 6,816 points by 1.51 pm and breaking above the 6,800 point mark for the first time since late February 2020.
This followed a positive lead from Wall Street where the S&P 500 and the Nasdaq hit all-time highs on Wednesday after the inauguration of Joe Biden as 46th President of the United States. ....

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