Delaying coal power exits in Australia could lead to power supply shortfalls, increasing risks

From Yahoo Finance: 2025-04-16 09:51:00

Extending the life of ageing coal power plants in Australia could lead to power supply shortfalls, increasing risks, as per the IEEFA report. Historical analysis shows decreased reliability as plants age, with refurbishments posing financial and safety concerns. The report emphasizes the need for renewable energy and battery storage for reliable power.

The report highlights safety incidents and financial risks associated with extending the use of ageing coal power plants in Australia. The potential shortfall in electricity supply could require an additional 49 to 93 petajoules of gas annually, leading to major price spikes. The focus should be on accelerating the deployment of renewable energy sources.

The Australian renewables sector faced a slowdown in investment in 2023, despite overall sector growth. The IEEFA report underscores the urgency to transition to renewable energy sources to ensure a reliable and sustainable power supply. The risks associated with relying on ageing coal power plants highlight the need for a swift transition to cleaner energy alternatives.

Read more: Delaying coal power exits in Australia risks power supply shortfall: IEEFA report