Falling cost of renewables creates coal test for federal government

As the price of renewable generation continues to fall, Scott Morrison is facing a test on energy policy as Barnaby Joyce backs new coal-fired power.

The regulator’s latest figures, to be released on Friday, reveal the flood of renewables and accelerating clean energy revolution have contributed to wholesale power price falls of up to 58 per cent, with the average prices falling below $70 a megawatt-hour for the first time since 2015. These price falls will add to the financial pain facing coal generators, which are more expensive to run than new wind and solar plants, and raise the risk of more coal-fired generators bringing forward their closure dates due to falling profitability.

Source: Falling cost of renewables creates coal test for federal government