Nationally, spending of more than $62 Billion on these new coal plants would lock in not just much higher energy prices but also achieve just a 5 per cent cut in national emissions by 2030. The Coalition’s push to build more coal – and its attacks on renewable energy targets – have already been discredited by the fossil fuel industry itself, apart from the coal miners looking for a market for their product. AGL repeated on Thursday that there’s no way it would build new coal plants, citing costs and commitment to emissions reduction; and the main fossil fuel generator lobby has also conceded that such plant would be impossible to finance..The Australian Industry Group has pointed out that such a plan would impose huge costs on consumers and manufacturers..Looks like they’ve really lost the plot this time.

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