00:00They've said we're going to have to adapt and adapt quickly, Gemma.
00:07They say that the energy grid is not ready for the closure of coal-fired plants and that
00:12the risk is blackouts across eastern Australia.
00:16The error in coal plant in the Hunter Valley was meant to close this year, but it's already
00:20been extended until 2027.
00:23Now, the energy operator says that there are enough renewables in the grid to help cover
00:29its closure, with solar in particular coming on in a major way as a new energy source.
00:36But there isn't enough supporting infrastructure in order to keep that energy grid stable.
00:41I apologise for getting into the nitty-gritty here, but the main issue of this report, they
00:46say, is that synchronous condensers, which help absorb reactive power and help keep the
00:51grid stable, are not due to be installed until after this Hunter Valley power plant closure.
00:59Without those condensers, there's a risk of system failures and therefore blackouts.
01:05It's worth noting that AMO, the Government Origin Energy and TransGrid are working together to
01:10make sure that there is as little disruption to consumers as possible.
01:15But the Coalition, of course, have taken this news this morning and absolutely run with it.
01:20It really suits their new energy policy that they have been spruiking, saying that Labor's
01:27approach to energy and the transition to renewables is too close-minded.
01:33The Coalition are arguing for an agnostic approach to technology.
01:36They say that we need to be extending these coal-fired plants as well as setting up more gas to maintain
01:45that stable energy grid.
01:48Shadow Energy Minister Dan Tehan blamed the government for closing down coal-fired plants too early.
01:54And he says that when the energy operator gives a warning like this, that we should heed it.
01:59Barnaby Joyce, however, though, acknowledged that the Coalition should have done more when
02:04they were in government to build new coal-fired power plants in anticipation for the closure
02:10of these ageing plants, which we are now seeing happen.
02:13It is worth noting, though, that the extension of these power plants come at a huge cost.
02:19The extension of Erroring is costing taxpayers $225 million a year.
02:26And it's those costs that Labor say is driving up our power prices.
02:32They say by having to extend these ageing coal-fired stations, we're paying more.
02:37And they argue that the transition to renewables will mean that we don't have to pay these extension
02:44costs and therefore our power bills come down.
02:47So, this news is being received by each side of politics.
02:51And they each have a different proposal for the best way to solve the issue.
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