Australia's largest energy supplier, AGL, has rejected the Coalition's proposal to build nuclear power plants, arguing that the cost and time delays associated with nuclear energy are prohibitive. Instead, AGL is prioritizing the rapid deployment of renewable energy sources such as wind and solar, supported by battery storage and other clean technologies.
Power giant AGL says Australia has reached a critical juncture in the renewable energy transition and has no time to waste on the Coalition’s controversial pitch to build nuclear generators.
Opposition Leader Peter Dutton has committed to build seven nuclear plants across the country if he wins the next election.Opposition Leader Peter Dutton has earmarked two of AGL’s sites – the Loy Yang A coal-fired power station in Victoria and the decommissioned Liddell generator in NSW – among seven locations where the Coalition wants to construct nuclear power plants.
Addressing AGL’s annual shareholder meeting on Wednesday, McKenzie insisted government and industry leaders must double down on the “concerted effort” to install more wind and solar, backed up by batteries, hydropower assets and quick-response gas plants, in time to compensate for a fast-approaching wave of coal-fired power plant closures.
AGL has already started building a 500-megawatt, two-hour battery at Liddell, and was collaborating with other potential technology partners, McKenzie said.At least half of the remaining coal-fired generators on Australia’s eastern seaboard are scheduled to shut in the next 10 years, while the share of renewable energy continues to grow. Wind, solar and hydroelectricity now account for more than 40 per cent of the grid’s average energy mix.
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