PERTH – Diversified miner Glencore has urged the New South Wales government to undertake "genuine two-way consultation" with the coal sector before any major policy changes.
The state government’s move followed on from the federal government introducing a 12-month price ceiling on domestic coal of A$125/t in New South Wales and Queensland in a bid to bring down domestic energy prices. Glencore on Wednesday pointed out that coal was one of the State’s most important sectors, which has consistently delivered for the people of New South Wales in terms of jobs, royalties, investment and energy security with coal continuing to deliver about 70% of the state’s electricity.
“Electricity prices are driven by supply and demand. To lower the cost of electricity while also increasing the share of renewable energy, government needs a pragmatic approach which protects the security of the current electricity supply while also encouraging additional supply.
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