NEG architect condemns coal…while propping it up

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Coalition energy confusion is truly a sight to behold:

The architect of Malcolm Turnbull’s signature energy blueprint says there is no longer an investment case to build new coal-fired power stations in Australia ­because “the cost of coal is always going to be more than the cost of wind and sun”.

…Dr Schott said it was widely ­accepted in the energy sector that new coal plants could no longer compete with wind and solar, ­together with gas or pumped-hydro capacity to ensure “dis­patchable” power.

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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.