Hazelwood to close

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From the AFR:

France’s Engie prepared to sack 900 people who work at Hazelwood power station as community groups warned of social “catastrophe”.

…The federal and Victorian governments were due to announce support packages – including job training and other aid – for the Latrobe Valley later on Thursday.

EnergyAustralia’s Yallourn plant – which employs 14 kilometres from Morwell – is the second most highly polluting plant in Australia after Hazelwood and is tipped to be the next to go.

The future of Alcoa’s Portland aluminum smelter in the state’s southwest also hangs n the balance – with 2000 more jobs at stake.

Had to happen. It’s just a great shame that is was not a better managed process that planned for energy security, transitional fuels and renewables. That is, via a carbon price that ensured efficiency. There would be a lot more money then for helping these communities.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.