I agree their needs to be coal power in the mix... not ~10-15GW that we currently see supplied... but at least 5-8GW. The country would not be in the problem that it is if we had a federal government who was actually supporting developing the next generation of electricity production... instead we have had 10 years of basically no energy policy
QLD & NSW in particular have far too great a reliance on coal power plants, which as you mention... are past design life... I do not agree that renewables are all media propoganda though... we need more built... and yesterday.
Once a renewable generation asset is built, it doesn't rely on a resource which is tied to global market pricing (like oil, coal & gas)... on that note, I am pleased to see the QLD government will likely increase the royalties that coal miners will have to pay... they are making a motza atm... doesn't suddenly cost more to dig it out of the ground.
AGL Price at posting:
$8.86 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)