The decline in gas-fired power generation to a 15-year low in eastern Australia’s national electricity market (NEM) in October-December may reflect the transition of country’s largest source of greenhouse gas (GHG) emissions to a lower carbon intensive sector. But it was not what the Australian government had in mind when it unveiled its gas-led recovery plans last year.
Canberra’s gas-led economic plan pledged funding for a new 1,000MW gas-fired power station in New South Wales, as well as underwriting studies for new gas pipelines and developing non-producing gas basins in Queensland and the Northern Territory. It has started funding some of the latter, but the latest data on gas-fired power challenge its premise for a new gas-fired plant.
Via Platts: