New coal doesn’t stack up: Snowy Hydro


“From our perspective (new coal) doesn’t stack up.”

“We will out-compete them (new coal) on price and on reliability.”

“We can out-compete a new HELE plant.”

And Snowy 2.0 only stacks up when more coal power exits the market, “the amount of (coal) baseload that comes out of the market determines the viability of 2.0.”

But as reported today, former Prime Minister Tony Abbott and Chair of the Coalition’s Environment and Energy Committee, Craig Kelly, will continue to pursue their new coal agenda.

In contrast, when asked by Senator Keneally if Snowy 2.0 will support a renewable generation share of 50 per cent or above by 2030, Mr Broad responded, “of course it supports it.”

Mr Broad was clear that Snowy 2.0 only stacks up as we transition to “a world that’s different” with a new clean, reliable and affordable renewable energy system.

It is fundamentally inconsistent for the Prime Minister to support Snowy 2.0 but have a National Energy Guarantee whose emissions reduction ambition will result in no large-scale renewables built for the entirety of the 2020s.

Only Labor has a consistent clean energy vision for Australia’s energy future – one that supports large storage projects like Snowy 2.0, as well as supporting reliable, affordable and clean energy.