Gas, gas everywhere and not a molecule to burn
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New South Wales can see the writing on the wall.
NSW will use a scheme designed to subsidise the development of renewable energy generation to build new gas power plants as early as next year, a decision that puts the country’s largest state at odds with the Albanese government’s reluctance to underwrite new gas generation.
The commitment to use the state’s renewable scheme to roll out backup gas power, which is expected to be announced by NSW Energy Minister Penny Sharpe on Tuesday, comes as other senior figures in the Minns government implicitly criticise increasing federal spending, warning it is “saddling working families with higher interest rates they cannot pay”.
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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.
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