Written by Squadron Energy |
Regardless of the broader net zero debate, the bottom line is Australia needs to rebuild its energy system, according to Squadron Energy CEO Rob Wheals:
“Notwithstanding the current political turmoil around energy, the science of climate change has not changed.
“There is an obvious inconsistency created by the Coalition’s abandonment of net zero with the commitment to remain in the Paris Agreement.
“With or without a commitment to net zero, the bottom line is Australia needs to rebuild its energy system. And that work is well underway right now.
“Let me be clear – energy investors will always have a preference to invest in the lowest-cost and most readily available alternatives, including variable renewable energy generation, backed by storage and dispatchable generation.
“There is no investment signal for new coal generation, and nuclear energy is a pipe dream.
“We need to modernise our energy system to meet future demand and reliability requirements. There is no time for a ‘complete reset’."
