"No way" anyone will fund new coal plants under NEG, says Schott | RenewEconomy

“No way” anyone will fund new coal plants under NEG, says Schott

“I can assure you that, unless there’s a change of technology, there would be absolutely no way that anybody would be financing a new coal-fired generation plant.”


The chair of Australia’s Energy Security Board – and one of the chief architects of the federal government’s proposed National Energy Guarantee – has uttered the words that no minister of the Coalition dares to speak: there is no appetite for new coal power in Australia’s energy market.

Speaking at the 2018 Future Thinking conference, hosted by the Energy Users Association of Australia, Dr Kerry Schott opened her presentation with some slides charting the falling cost of renewables, and with an assurance that no new coal power would be built, NEG or no NEG.

“I can assure you that, unless there’s a change of technology, there would be absolutely no way that anybody would be financing a new coal-fired generation plant,” Schott said.

“So, people might want to see them go faster, but they’re going anyway.”

The comments come as the Tony Abbott-led far-right faction of the Turnbull LNP government – the unfortunately named Monash Forum – intensifies its push for a National Energy Guarantee that guarantees support for coal plants, old and new.

“Cheap power was once Australia’s chief comparative advantage in the manufacturing sector and we can’t abandon it if we are to remain a country that makes things,” the Forum said in an open letter last month.

“That’s why all Australian governments must overcome their current coal-phobia and ensure that coal-fired power stations continue to be built.”

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  1. RobertO 2 years ago

    Hi All, That two clangers in this month already, she will not have a job shortly if she continues with these lies (babbott and coal ash group will call time for her). The NEG must have coal at all costs, taxpayers pay tax, therefore taxpayers are rich and we the coal ash group need to spent that money.

    • Joe 2 years ago

      …and spend we shall on a new High Emissions Low Efficiency coaler or two or three. Treasurer Scotty is wetting himself excitement with all our extra hard earned that he can play around with in the upcoming Fed. Budget…Scotty will say here MOANash Forum, Imma giving $x billions for those new coalers, those High Emission Low Efficiency jobs that you lot, The MCA and Rupe’s newsrags love to bang on about.

    • Alexander Hromas 2 years ago

      Don’t worry about Dr. Schott it was Mr. Abbot who scuppered coal fired generators. His lie about the carbon tax and subsequent dismembering of all renewable energy schemes as cut confidence in long term energy investments. What one government can do the next can undo and the planning, construction, commissioning and capital recovery periods for coal plant add up to 45 years well in excess of any political cycle. So we go on building wind and PV plant as both have short planning, construction and cost recovery times. Thank you Mr. Abbot

      • Chris Fraser 2 years ago

        REaders can hardly believe what the Monash retard-tank is coming out with these days. To think, let alone believe, that coal provides a comparative advantage in manufacturing (when most things are made in solar daytime) almost beggars reality.In the run down to the next election, the Monash Retards will clearly apply their Scorched Earth policy, which may remind readers of a Hazelwood coalpit fire …

        • Joe 2 years ago

          Yes, that fire. The good burghers of Morwell are still living with effects. Conveniently The MOANash Forum groupies have nothing to say about that event. Even as the recent Abbott led COALie Pedal cycled through the area, not a peep from Abbott & co about Morwell.

        • Alexander Hromas 2 years ago

          Monash was an innovator both in war and in power generation. His brown coal fired stations were built at a time when the “populists” were claiming that it could not be done. If he were alive today he would be all for putting up large PV , wind and concentrated thermal plant and scraping coal. The knuckle dragers of the Monash group cannot even assess history properly

  2. Joe 2 years ago

    I can just see the headlines coming in Rupert’s newsrags tomorrow…Abbott / The MOANash Forum call for the sacking of Dr Kerry Schott.

  3. mick 2 years ago

    not so sure new ackland just got a land court ruling over turned

    • Ken Dyer 2 years ago

      No Not overturned. It was sent back to the land court by the Supreme Court for more information.

      • mick 2 years ago

        literally true but in this climate why would they send it back to effectively repeat arguments already made and accepted?

        • John Gardner 2 years ago

          exactly, this is quite concerning!

        • Ken Dyer 2 years ago

          What happened was the mine people submitted a new ‘independent’ report after evidence was heard in the Land court.

          This then brought on the Supreme court application here:


          So yesterday the Supreme Court took into consideration the new report and sent the whole thing back to the Land Court for consideration.

          Here’s a summation of the history:


          Having said that, nothing happens unless the Queensland Government approves the extension on the recommendation of the Land Court. They refused it in February 2018, so as it stands the mine is dead, unless the evidence is so compelling to make the Land Court to reverse its decision,in which case the Queensland Government may reverse its decision, otherwise the original Queensland Government decision will stand.

          It has got a way to go yet.

  4. Trevor Toomer 2 years ago

    “Cheap power was once Australia’s chief comparative advantage in the manufacturing sector and we can’t abandon it if we are to remain a country that makes things,” the Forum said in an open letter last month.
    True, we need an over supply of energy at close to zero marginal cost, and industries that are flexible enough to make use of it.

    • Tom 2 years ago

      “… if we want to remain a country that makes things.”

      Abbott was the one who sold out our entire automotive industry and the 150,000 jobs of people “making things” – cars and components.

      • Edgar 2 years ago

        When he could have converted it to manufacturing electric vehicles and been ahead of the pack…

        • Tom 2 years ago

          Completely non-RE, but he could have even converted them to converting second-hand foreign vehicles to left-hand-drive Australian vehicles, by relaxing the foreign import laws.

          Abbott was a turkey with no vision about anything – even maximising yesterday’s technology.

      • Andrew Roydhouse 2 years ago

        Actually it was the John Button plan in the 1980s that set the tariff phase out for imported vehicles under Bob Hawke & Paul Keating.

        Nothing to do with Abbott and all to do with Hawke/Keating actually. Lots of info for you!

        Killing the Industry Softly – The 1985 Button Car Plan – Car Throttle
        In the 1970s, the Australian new car market was dominated by the Big Three. Ford, Holden and Chrysler. They weren’t the only ones building cars in Australia there was also Leyland, Toyota, Volkswagen, Renault and Nissan. Large tariff walls had forced anyone who wanted to sell large volumes in Australia to build cars …
        Button car plan – Wikipedia
        Industry consultation began in mid 1983 and the scheme was announced in mid 1984. It came into effect in 1985, after Senator Button visited Japan to inform the car companies there of the content of the plan. At the time of the plan’s inception, Australia’s motor industry was heavily protected by import tariffs, and quotas or …
        Cars on death row for 30 years – The Australian
        https://www.theaustralian.com.au/business/…/cars…/story-e6frg9k6-1226827674532?…Feb 15, 2014 – WHO killed the car
        industry Well, just about the only suspect ruled out in the explosion
        of accusation masquerading as comment, in the wake of Toyotas
        announcement, was … The Button plan had tariffs coming down to 15 per cent by 2000, with the issue to be re-assessed running down to the new century.
        Holden’s demise started with the Hawke government
        https://www.smh.com.au › National › OpinionDec 13, 2013 – Back in 1984, Senator John Button announced a laudable long-term plan to tear down the walls of protectionism and open Australia’s car
        market to real … Wrapping Holden in the national flag ignores the
        reality that back in the day, the Falcon and Commodore business model
        was built behind high tariff …
        Australian manufacturing boomed, then busted in the 1980s …
        http://www.manmonthly.com.au/…/australian-manufacturing-boomed-then-busted-in-the-1…Apr 6, 2011 – The Motor Industry Development Plan (also known as the Button car plan, after the then Minister for Commerce, Trade and Industry, John Button) was introduced in the mid-1980s at a time when the motor industry was heavily-protected by import tariffs.

        • MaxG 2 years ago

          What I have been saying all along; neoliberalism has infected both parties, the LNP lives it and the ALP is a flag in the wind, and adopts it as it politically suits. The Hilmer Report was (after all) commissioned by Keating.

  5. Jon 2 years ago

    Good stuff Dr. Schott
    You just got yourself some credibility as far as I’m concerned.

    • Tom 2 years ago

      I’ll give her that. I was very sceptical of her, given her CV. I’m still sceptical, but this is a good sign.

    • MaxG 2 years ago

      And a potential ejection seat given the clowns in power.

  6. Ren Stimpy 2 years ago

    The Schottmeister should now take this argument to its logical conclusion and admit there is no need for a NEG. The reliability leg of the NEG is obsolete. The AEMO guarantees reliability to 99.9998888% or some such very high level. No new coal fired generator will ever be built in Australia. So what we need now is 1) more incentives for clean energy supply and energy storage supply, i.e PHES, grid scale batteries, and powerwalls; and 2) an end to the blocking of 1 by political dickheads such as Turnbull and Frydenberg who are now even hollower than your typical neighbourhood cocaine snorting advertising exec.

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