Taxpayers might not get anything in return for $4 million granted to a company who want to see if it is a good idea for a new coal-fired power station to be built in north Queensland.
“Department of Industry, Science, Energy and Resources senior official Rachel Parry conceded it was okay if the company, Shine Energy, did not end up with a bankable feasibility study.
“It’s been 14 years since a coal plant has been built in Australia,” she told a Senate estimates hearing on Monday evening.
But the IEEFA says gas cannot compete on price compared to renewables.
“The very rationale for embarking on a gas-fired recovery plan post COVID-19 has been removed,” analyst Bruce Robertson said.