The Victorian Nationals’ decision to support the building of a new high efficiency low emission coal plant in the Latrobe Valley is strongly supported by the Minerals Council of Australia, the industry association representing the minerals industry which consumes over 11 per cent of electricity in the National Electricity Market and directly employs more than 450,000 Australians.
The closure of the Hazelwood power station has resulted in major increases in electricity prices and now poses a significant threat to power supplies.
Unless planning starts now for new low cost 24/7 power, Victorian households and businesses will continue to face high prices and unreliable power supplies.
A new high efficiency low emission coal power station plant in the Latrobe Valley would provide the lowest cost new baseload power.
It would place downward pressure on electricity costs, ensure reliable power supplies while significantly reducing emissions.
Using existing power and mine infrastructure would reduce the costs of a new power station. The Latrobe Valley’s existing maintenance facilities and skills base would also be critical.
A recent report written by former Loy Yang A power station CEO Ian Nethercote, the CEO of the Committee for Gippsland, Mary Aldred, and the Minerals Council of Australia provides a clear path forward.
It shows what is possible with the latest German brown coal technology, delivering reliable 24/7 power at around 60 per cent of current wholesale prices and with 40 per cent lower carbon emissions compared to Loy Yang A.
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