Independent report confirms coal-fired power will reduce prices - Better Queensland

Independent report confirms coal-fired power will reduce prices

  • Another independent report finds an ultra-supercritical coal-fired power station produces cheaper electricity than renewables
  • The LNP fully supports the construction of a financially viable ultra-supercritical coal-fired power station to ensure North Queenslanders have access to secure and affordable baseload power
  • North Queensland residents, manufacturers and businesses shouldn’t miss out on affordable and reliable electricity because Annastacia Palaszczuk is trying to win inner-city Green preferences

An independent report released today has confirmed that an ultra-supercritical coal-fired power station produces cheaper electricity than renewables.

LNP Leader Tim Nicholls said the Minerals Council of Australia commissioned report revealed it would cost $2.2 billion to build a 1000MWh ultra-supercritical coal-fired power plant that would ­deliver the cheapest electricity on the market.

He said Australian consumers would pay $3 billion towards renewable energy subsidies this financial year alone.

“If Labor had their way, electricity would be a luxury only afforded a select few,” Mr Nicholls said.

“The report confirms a state-of-the-art, high-efficiency, low-emissions coal-fired power station would produce cheaper electricity than renewable energy. 

“The LNP fully supports the construction of a financially viable ultra-supercritical coal-fired power station to ensure North Queenslanders have access to secure and affordable baseload power. 

“Labor has flatly ruled out supporting this project and providing North Queenslanders with reliable baseload power.

“North Queensland residents, manufacturers and businesses shouldn’t miss out on affordable and reliable electricity because Annastacia Palaszczuk is trying to win inner-city Green preferences.”

Mr Nicholls said Labor was elected on a promise to lower electricity prices but that promise was broken days after it was made. 

“Under Labor, power costs are soaring and will continue to go through the roof under Labor’s ideologically-driven, headlong rush to a 50 per cent renewable energy target,” he said.

“North Queensland families and businesses will be paying the price in taxpayer subsidies and higher power bills for decades to come to prop up this rush towards renewables.”

LNP Shadow Energy Minister Michael Hart said today’s report showed coal was still far cheaper than renewables – a fact also confirmed by the Finkel report. 

“The report clearly states an ultra-supercritical coal-fired power station would produce electricity at $40-$78 per megawatt hour, compared with gas at $69-$115/MWh and solar at $90-$171,” Mr Hart said.

“Annastacia Palaszczuk would rather North Queenslanders use candles than ensuring they had access to low-cost, reliable baseload power. 

“North Queenslanders are sick to death of Annastacia Palaszczuk and her embattled Energy Minister Mark Bailey treating them like cash cows and second-class citizens.”

Mr Hart said the LNP realised reliable and affordable baseload power would provide North Queensland, and cities such as Townsville and Cairns, economic and energy security.

“That is why the LNP would declare a North Queensland power station as a priority project if we were successful at the upcoming state election,” he said.

“We fully support the development of a new coal-fired power station in North Queensland to ensure residents have access to affordable electricity for generations to come.”

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