Stating that the battle lines have been drawn, Australian Prime Minister Malcolm Turnbull yesterday outlined what he called the Coalition’s “clear-eyed, pragmatic and objective” approach to cheaper energy.
Speaking at the National Press Club, the Prime Minister took aim at some of the states pursuing their own renewable energy targets, saying they had given no consideration to baseload power and storage.
He also pressed the case for onshore conventional and unconventional gas development, stating the government was willing to sit down with the states to determine the right incentives.
With regard to coal, Prime Minister Turnbull noted that $590 million has been invested since 2009 in clean coal technology research and demonstration; but without a single high-efficiency low-emissions coal-fired power station to show for it.
“Old, high emissions coal-fired power stations are closing down as they age, reducing baseload capacity. They cannot simply be replaced by gas, because it’s too expensive, or by wind or solar because they are intermittent,” said the PM.
“Storage has a very big role to play, that’s true. But we will need more synchronous baseload power and as the world’s largest coal exporter, we have a vested interest in showing that we can provide both lower emissions and reliable base load power with state-of-the-art clean coal-fired technology.”
On the topic of energy storage, he stated that it would be a priority this year and that the Coalition would “get on with it”.
For starters, ARENA and the Clean Energy Finance Corporation will be working together at the Prime Minister’s request to develop a new program to fund large scale energy storage.
The PM has also written to Australia’s Chief Scientist, Dr Alan Finkel, requesting he advise on the role of storage in stabilising Australia’s energy grid.
The Prime Minister accused Labor, which has pledged a target of 50 per cent renewable energy by 2030, of “mindlessly rushing into renewables” and that its approach was being driven simply by ideology.
The full transcript of Prime Minister Turnbull’s address to the National Press Club can be viewed here.
Shadow Minister for Climate Change and Energy Mark Butler was less than pleased with the nature of the Prime Minister’s address.
“The Prime Minister likes to claim he is fighting for low electricity prices in the same sentence as creating more uncertainty that drives prices up,” he said.
“This Government has no clue how to deliver effective energy policy and Australian households and business will pay the price of their inadequacy, costing the environment, the economy and jobs.”
The Clean Energy Council has urged for stable, long-term policy supported by both major parties and for the focus to remain on renewables.
“Renewable energy such as solar and wind is are now the cheapest kind of energy generation it is possible to build in Australia and, with a welcome and increased focus on energy storage, can ensure a secure and reliable supply of power into the future,” said CEC Chief Executive Kane Thornton.
