Power costs are switching off growth: resource chiefs

THE  Queensland Resources Council’s (QRC) latest quarterly State of the Sector report has found grave industry concerns over the tripling of electricity costs.

QRC Chief Executive Ian Macfarlane said the survey of resource chiefs reaffirms the ongoing need for dispatchable power to balance intermittent sources of energy.

“Unreliable and high-cost power continues to harm the competitiveness of the sector,” Mr Macfarlane said.

“Queensland resource companies have absorbed a three-fold increase in wholesale electricity prices over the last five years. These costs switch off economic growth in our regions.

“The economy needs reliable, dispatchable power at an affordable price. The ideal way to deliver this, and reduce emissions, is to deliver a balanced energy mix.

“Renewable energy clearly has a role in the generation mix to drive down emissions, although it cannot entirely replace the reliability of baseload power. 

www.qrc.org.au

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