GVK reveals more losses, ballooning debt – and makes no mention of Galilee Basin coal projects.
It is hard to imagine a day when fossil fuels will be used sparingly. But with carbon now officially a liability, and renewables moving mainstream, chances are humanity can kick the habit much faster than previously thought possible.
Research shows that the (NEM) in Australia is dominated by sub-critical electricity generators that are in general old and highly polluting by global standards.
As coal dependence falters in US, wind-powered electricity generation is rising. In less than a decade, the mix of fuels used for generating electricity has undergone a major shift.
Labor and the Coalition agree on one thing – they hate the Greens; close poll means Turnbull will still be shackled to hard right; South Australia shows it’s possible to close down coal; and Tasmania reaps the benefit of closing down fossil fuels.
No coal-fired power stations were running between 12am-4am on Tuesday, something experts say has not happened since the construction of UK’s first coal plant in 1882.
On Monday, 50 years of coal generation in South Australia ended with the closure of the Northern power station. But Northern’s shutdown does not mean that South Australian power supply is coal-free.
Royal Commission says nuclear too expensive and not viable in Australia until 2030s, if at all. But it wants ban lifted, just in case.