Coal the key to affordable, dependable power supply

THE announcement that the Turnbull Government will underwrite the construction of new coal-fired power stations to keep business and industry thriving in the Gold Coast region and power prices affordable for Gold Coast families is overdue, but welcome.

The Gold Coast is powered by tourism and small business, which rely on affordable and dependable power supply. Now is the time for the Government to deliver on these necessities for the Coast.

The Australian Power Project has been calling for this development for the past two years, and the Government’s announcement follows the Australian Competition and Consumer Commission report released last month that recommended government support for new baseload generators.

Australia has abundant natural resources that can be used to generate clean energy in high efficiency low emissions (HELE) power stations that utilise the very latest technology. Over a thousand HELE power stations are already planned, under construction, or in use around the world – but Australia has none.

Australia now has the opportunity to take advantage of its abundant coal resources to ensure clean, affordable and reliable energy supply that will underpin future economic growth.

Regions such as the Gold Coast have suffered for too long under the burden of ridiculously high power prices that not only hurt the family budget, but also make it hard for small businesses to stay in business, let alone employ more people.

Technology is making wind and solar more viable. That is true.

But it is also true that when the wind doesn’t blow and the sun doesn’t shine, these technologies contribute nothing to the electricity grid.

Yet when your family is home, you still need the lights on and the stove to be hot and the fridge to be cold and the airconditioning to be working. Life doesn’t wait for renewables.

That’s why Australia still needs reliable and affordable sources of baseload energy supply.

If we don’t have that, we have blackouts, brown outs and power bills that force families and pensioners to cut back on essentials such as food, heating and medication.

The closure of the Liddell Power Station in NSW in 2022, without any like-for-like replacement, will have a disastrous impact on power prices not only in NSW, but to the north in the Gold Coast region.

We have already witnessed what happens to power prices in South Australia and Victoria when cheap and reliable power stations are closed without new baseload generation built.

The shift to more expensive green energy and gas-fired generators has pushed family budgets to breaking point, and even resulted in businesses shutting their doors.

So far the only winners in the energy debate have been the big electricity retailers, who recently announced they had tripled their net profits last financial year.

Meanwhile, businesses on the Gold Coast and surrounds wait to see what governments will do to help them ensure the long-term viability of their businesses.

All sides of politics should heed the spirit of the ACCC’s recent report and put affordability at the heart of energy policy to lower the cost of living for families and support the long-term future of industry and manufacturing.

To ignore the reality of what is occurring around the world with the uptake of new HELE power stations is to condemn Australia to uncompetitive high power prices for the next decade. The Turnbull Government must be supported on this initiative.

NATHAN VASS, FOUNDER, AUSTRALIAN POWER PROJECT