One day after the PM appeared to throw his support behind the development of a new coal plant for Australia â€“ to shore up the nationâ€™s â€œcontinuous power sourcesâ€ â€“ AGL Energy CEO Andy Vesey has delivered a couple of energy market home truths and clarifications: renewables will be the only source of new baseload energy in Australia, and coal cannot compete.
In the opening address at Australian Energy Week in Melbourne on Wednesday, Vesey said
â€œWhatâ€™s the new baseload for us? Itâ€™s going to be large-scale renewables. Itâ€™ll be firmed up by probably open-cycle gas and, eventually, when storage comes down, thatâ€™s what it will be.”
â€œWe donâ€™t see anything baseload other than renewables,â€
— AGL Energy CEO
Full story at RenewEconomy:Â http://reneweconomy.com.au/agl-says-only-renewables-will-provide-new-baseload-not-coal-85724/