ScoMo’s secret carbon tax kills gas power

Advertisement

Via Platts:

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.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe
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.