who believes Labour's Bowen, the fool?
coal and nuclear are unstoppable. Fomo will set in eventually.
Global use of coal rises as nuclear power poised to hit record highs
The IEA said global coal use for producing electricity is expected to increase by just shy of 1 per cent, following growth of 1.9 per cent in the previous year. The IEA said it had expected coal power generation to contract this year but while there had been declines in Europe – growth in Asia would see global usage increase.
While much of the increases in Asia were driven by strong electricity demand growth in China and India, the IEA also noted US coal-fired generation is also expected to remain robust in 2024 amid rising electricity demand and reduced coal-to-gas switching.
The findings underscore the global challenge of reaching net zero emissions by 2050, a pledge supported by nearly all countries, which the Opposition has said underscores its plan for using nuclear power.
Opposition leader Peter Dutton has insisted its policy of building seven nuclear power stations at the sites of retiring coal power stations is indicative of a global trend, though the Albanese government insists those countries are doing so because they do not have the abundant renewable resources enjoyed by Australia.
While Labor has secured support of the Australian renewable energy industry, the Coalition is likely to seize on the IEA’s forecast for global nuclear use as evidence that Australia will be swimming against the tide.
The IEA said global nuclear generation is on track to reach a new high in 2025, surpassing its previous record in 2021. Nuclear generation is forecast to rise globally by 1.6 per cent in 2024, and by 3.5 per cent in 2025. This growth is supported by a steady increase in output by the French nuclear power fleet as maintenance works are completed, by the restarting of reactors in Japan, and by new reactors coming online in various markets, including China, India, Korea and Europe.
Both Europe and Asia are increasingly turning to nuclear power as they attempt to wean themselves of fossil fuels amid a global energy crunch. Europe had been reliant on gas for much of its electricity generation but has in recent years sought to wean itself off Russian supplies amid sanctions on Moscow following its invasion of Ukraine.
Japan, a major user of coal, has been forced to restart its nuclear fleet in a bid to meet its net zero commitment.
