Origin Energy CEO Grant King says falling demand and the push to renewables means there will be no requirement for new baseload power stations – either coal or gas – until the end of the decade.
And in an exclusive and wide-ranging interview with RenewEconomy, King says that if the country is serious about reducing emissions, then its next choice of baseload energy will likely be hydro – from Papua New Guinea.
“If we really do want to decarbonise our fuel, then when the time does come to build baseload power stations we probably don’t want to build coal or gas ones,” he said
In the interview, King discusses why the renewable energy target could be problematic: “I know there are others that are saying something is wrong with the system and nothing is being built, but nothing is being built because the market is long RECs.”
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