ENVIRONMENT

Flynn pans renewable subsidies

The closure of coal generators in South Australia and Victoria had an impact on wholesale prices.

 Whitehaven CEO Paul Flynn.

Whitehaven CEO Paul Flynn.

The Australian Competition and Consumer Commission said this week that there needed to be energy system reform because customers are being overcharged.  
 
"Notably, the closure of coal generators in South Australia and Victoria had an immediate impact on wholesale prices," Flynn said.
 
"South Australia has the highest cost electricity in Australia along with the most renewable and intermittent generators.
 
"Queensland is the only state with high energy low emission supercritical power stations and is consistently the lowest wholesale cost electricity generator and exports between 500 megawatts and 1000MW a day to NSW."
 
Flynn said the Finkel Report recommended the deployment of renewables with support from dispatchable generators by 2030.
 
"However, replacing sub-critical plants with high efficiency low emission plants lowers emissions by between 20% and 40% while providing low cost 24-7 electricity," he said.
 
Flynn said funding for new thermal coal projects was becoming less straightforward as lending institutions were bullied by green groups.
 
"Incumbent producers are winners as coal prices can remain higher for longer when little new production is coming to the market," he said.
 
"Meanwhile demand for coal continues to grow in the Asian region."
 
 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production