Tuesday, April 3, 2018

Scott Morrison blasts coal rebels, says new coal power twice as expensive

Treasurer Scott Morrison has blasted a call by Coalition MPs for the government to build a coal-fired power station, saying it would not provide cheap electricity as claimed, but power that could be twice as expensive.
Scott Morrison has blasted a call by Coalition MPs for the
government to build a coal fired power station, saying it
 would not provide cheap electricity. 

With a ginger group of Liberal and Nationals MPs called the Monash Forum demanding the government invest up to $4 billion to build a High Efficiency, Low Emissions (HELE) coal-fired plant in Victoria, Mr Morrison said such a project would take many years to build and the electricity it produced would be far more expensive than that being generated by existing coal-fired power stations.

"There's a difference between old coal and new coal. Old coal bids into the energy grid at about $30 a megawatt hour, it could be up to $40,' he told The Australian Financial Review Banking & Wealth Summit.


Read the story from The Financial Review by Phillip Coorey - “Scott Morrison blasts coal rebels, says new coal power twice as expensive.”

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