Oceania

Australia Expects 60% of Coal Power Output to Cease by 2030

 

Australia will lose 60% of its coal-fired electricity capacity by 2030, the national market operator said on Thursday, underscoring a need for investment in renewable energy.

Under the operator’s so-called “step change” scenario, annual power consumption will double by 2050, as transport, heating, cooking and industrial processes are electrified.

That would also entail “60% of current coal generation exiting by 2030”, Australian Energy Market Operator (AEMO) chief executive Daniel Westerman said.

The operator on Thursday published its 2022 Integrated System Plan (ISP), outlining a 30-year roadmap of investments for Australia’s national electricity market.

AEMO called for urgent investment in five key projects worth more than A$12.8 billion ($8.8 billion) to build new transmission lines that can accommodate a rapid increase in renewables.

The operator said A$320 billion would be needed to operate a low-carbon grid by 2050.

“To maintain a secure, reliable and affordable electricity supply for consumers through this transition to 2050, investment is required for a nine-fold increase in grid-scale wind and solar capacity,” Westerman said.

 

  • George Russell

 

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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