Deputy PM ‘green-lights’ government investment in coal

July 13, 2018

Deputy Prime Minister Michael McCormack has declared there is a “green light” for government-investment in new coal projects.

The Conservative Party has been calling for cheap, reliable delivery of baseload power however it can be delivered and coal and or nuclear power are some of the best options.

The Australian reports, the competition watchdog’s key recommendation in its landmark report released this week could see the government underwrite and potentially subsidise new “firm” cheap power generation for industrial and commercial users, which may include coal.

Asked on Sky News if this gave the “green light” for underwriting new coal-fired power plants, Mr McCormack said: “Well indeed.”

“The ACCC has suggested … it could be coal, it could be gas, whatever it is, though the fact is the ACCC says it’s there, the government should and could support it where appropriate,” Mr McCormack said.

“Coal can be part of the mix, coal should be part of the mix, there are thousands of jobs, particularly throughout Queensland, in the coal industry. We’ve got plenty of it, we’re exporting plenty of it, why don’t we use more of it for are own domestic energy power needs? The ACCC report gives the confidence in the sector to be able to say to investors you can invest in coal, you can invest in any technology.”

Conservative Party leader Cory Bernardi has told 2GB's Chris Kenny, he's please with the ACCC's recommendations, which could be implemented through a market tender for the government's $450 million annual energy needs.

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