Greens welcome AGL’s renewables fund, call for more action to hasten coal out of NEM  

MEDIA RELEASE – 10 February  2016

The Greens NSW energy spokesperson Jeremy Buckingham today welcomed AGL’s announcement of the Powering Australian Renewables Fund and its contribution of $200 million in equity, saying the company was in tune with consumer sentiment and the direction of technology and energy policy.  He called on the state and federal governments to do more to hasten the exit of coal-fired power from the oversupplied National Electricity Market to provide the space for new renewable energy projects.

“As one of AGL’s biggest critics on coal seam gas, I warmly welcome their new renewables fund and applaud their efforts to change the direction of the company away from fossil fuels and towards clean energy,” said Greens MP Jeremy Buckingham.

“We need increased government intervention to get more coal-fired power stations out of the oversupplied National Electricity Market to make space for renewable energy.

“With the removal of the carbon price, the market is not properly factoring in the real cost of carbon-intensive energy and it is a tragedy that old, inefficient coal-fired power stations are keeping out new clean energy technologies.

“It’s clear that some companies and most consumers are ready to go with a transition away from fossil fuels to clean energy, but governments are dragging the chain.

“Prime Minister Turnbull and Premier Baird need to discard the base politics and anti-science quackery of the dinosaurs in their party rooms, to ensure the energy market and regulatory frameworks encourage renewable energy and hasten coal into retirement.”


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