New high-efficiency low-emission (HELE) coal-fired power plants have a role in the energy mix and the government is prepared to intervene in the market, Josh Frydenberg has said. The energy and environment minister told Sky News on Sunday that new coal plants “need to be considered” alongside other sources of baseload power, and the government could intervene if the market failed to deliver the “best possible outcomes” in the electricity market. The comments leave open the possibility of government intervention in favour of coal, despite Frydenberg saying in July that the government would only support new coal power plants “if the market supports that”. Frydenberg noted renewable energy was supported by the renewable energy target, and lamented the fact that no gas power stations had been built since 2010 and no coal stations since 2007. Frydenberg said he was focused on “outcomes”, and noted that the Finkel plan would both reduce the trajectory of Australia’s greenhouse gas emissions but also reduce prices overall.

Source: The Guardian August 13, 2017 00:45 UTC