Malcolm Turnbull to consider government backing for new power plants - which may include clean coal
Author: ABC NEWS Date Posted:13 July 2018
Laura Tingle discusses the latest from Canberra, including electricity prices and the possibility of the government funding a new coal-fired power station.
ELLEN FANNING, PRESENTER: In response to this week's report on energy prices from the competition watchdog, the ACCC (Australian Competition and Consumer Commission), the Prime Minister Malcolm Turnbull says he will consider Government backing for new power generation plants, which may include so-called clean coal.
To discuss this and other developments in Canberra today I spoke to 7.30's chief political correspondent, Laura Tingle, just a short time ago.
Laura, it is reported today that the Prime Minister has left the door open to the idea of taxpayers supporting a coal-fired power station.
Do you think he is seriously contemplating that?
LAURA TINGLE, CHIEF POLITICAL CORRESPONDENT: I think it is true that he's left the door open for it, Ellen, but I think the important thing about what the Prime Minister is talking about and what the ACCC is talking about is leaving the door open for the market to determine what is the cheapest form of power at the point of time when the form of government subsidy is sort of offered around.
So if you are a renewable energy producer and you can say, "We can provide base-load power at the cheapest price", you will get the subsidy.
As the Prime Minister has said right from the start with the National Energy Guarantee, he wants a technology-neutral policy.
The advantage of what the ACCC has said, is that it sort has re-enforced that, but it has also left open the space for coal to compete.
So that has really sort of helped to appease the Nationals and those who want the keep coal in the game.
ELLEN FANNING: And do you think it is likely that the economics of it would add up such that coal would be on the table and, yes, taxpayer funds would subsidise that?
LAURA TINGLE: I think it is. In the long-term, of course, coal generally isn't a very viable option and that is one of the reasons why we haven't seen any coal-fired power stations being built.
But if you went today and said, "What is the cheapest form of power?" The answer may well be coal right now and, of course, the proposal from the ACCC, if it was taken up by the Government, is about providing, shall we say, a back-end subsidy to sort of reassure investors that whatever they do longer term, would be supported.
So coal is a possibility, but it is not a probability, if you know what I mean.
ELLEN FANNING: Okay and on another matter, this new Independent Parliamentary Expenses Authority apparently it has been found that Barnaby Joyce did not break any entitlement rules.
Does this mean it might be the end of all of the reporting on Barnaby Joyce's private life? Say yes.
ELLEN FANNING: (Laughs) Look, I would love to say 'yes'. Let's all say, yes, we hope it is but it certainly cleared up what was the most direct point of contention, which is, did Barnaby Joyce use taxpayer funds to fund his personal life?
The answer from the authority is that he didn't within the terms of the definitions laid down in the regulations.
ELLEN FANNING: The end. Thank you very much, Laura.
LAURA TINGLE: Thanks Ellen.
