Australia’s biggest polluter, AGL, has announced the early closure of the nation's most emissions intensive power station in Victoria’s Latrobe Valley, with the company planning to exit out of coal completely by 2035.
Loy Yang A coal power station is set to close 10 years earlier than planned, by 2035, and AGL also confirmed its Bayswater coal facility in the Hunter Valley in New South Wales is on track for closure between 2030 and 2033.
The announcement comes days after the Queensland Government unveiled its multi-billion dollar energy and jobs plan to shift the state away from coal power by 2035 and cash-in on its renewable energy and clean industry potential.
Greg Bourne, Climate Councillor, energy expert and former president of BP Australasia said coal is no longer a commercially viable industry.
“This is a commercial and strategic decision made by AGL, and reflects the reality of the rapid move towards a 21st century power grid as well as 21st century economics,” Bourne said.
“Coal is unable to compete on cost with renewable energy, it is also inflexible, ageing, unreliable and inefficient. change, it is critical that we move away from fossil fuels this decade.
“This announcement is further proof that coal power station closures are going to happen sooner and more frequently than companies are currently formally committed to, and we need to take charge of the transition both to ensure all communities are supported through it, and that we know exactly what alternative, clean energy supplies we need and when.”
Clean industries are already charging ahead in Gippsland, like Star of the South, which is set to become Australia’s first offshore wind farm.
The project has the potential to supply 20 per cent of the state’s energy needs and could create around 2,000 direct Victorian jobs.