Coal makes rebound on handy tax cut
The Federal Government’s move to cut the carbon tax and favour the coal industry is paying off.
New figures show Australia’s share of brown coal generation is at its highest level in three years, brought about by the repeal of the carbon price.
This are looking up for gas-fired generation, too with a rise in Queensland pinned to the development of “ramp gas”.
The cheaper gas supplies are being produced due to the lag companies are experiencing ahead of LNG exports firing up.
But while gas and brown coal generators are again enjoying healthy profits, the fossil-fuel revival carries big environmental costs.
Australian electricity emissions are up 2.8 per cent since the carbon price was cut last June, while the emissions intensity of the national grid has increased by 4 per cent in the same period.
The return to burning things for power has all but obliterated the gains made by renewable energy providers, in a manner detailed here by the clean power media outlet, RenewEconomy.