The cost of large scale coal fired power generation is half that - more like 3c/kwhr. That is the actual power cost (not distribution) for a power station linked to its own mine. It is an incredibly cheap way of generating power and this cheap power enabled Victoria to be the manufacturing centre of Australia.
So to answer your question... yes... coal can still be extremely competitive and will remain so for a long time. This is why it is so pervasive globally as a power source.
