Prime Minister, Malcolm Turnbull, shows support for carbon capture and storage in Press Club address

At an address to the Canberra Press Club, yesterday, Prime Minister, Malcolm Turnbull, said that Australia should be able to achieve energy that is affordable, reliable and secure and that meets our global emissions reduction commitments.

“Security, affordability and emissions reduction – that’s what we need to achieve,” said Mr Turnbull.

He said coal would continue to play a role in Australia’s energy mix, despite the closure of major power stations like Hazelwood in Victoria’s Latrobe Valley.

“Australia is the world’s largest exporter of coal. We’ve invested $590 million since 2009 in clean coal technology research and demonstration and yet we do not have one modern high-efficiency low-emissions coal-fired power station, let alone one with carbon capture and storage,” said the Prime Minister.

Old, high emissions coal-fired power stations are closing down as they age, reducing base load capacity. Mr Turnbull stated they cannot simply be replaced by gas, because it’s too expensive, or by wind or solar because they are intermittent.

“Storage has a very big role to play, that’s true. But we will need more synchronous base load power and as the world’s largest coal exporter, we have a vested interest in showing that we can provide both lower emissions and reliable base load power with state-of-the-art clean coal-fired technology.

“The next incarnation of our national energy policy should be technology agnostic. It’s security and cost that matters most, not how you deliver it.

“Policy should be all of the above technologies, working together to deliver the trifecta of secure and affordable power while meeting our emission reduction commitments,” the Prime Minister said.

See Malcolm Turnbull talk on prioritising energy security and storage here – http://www.abc.net.au/news/2017-02-01/turnbull-says-coalition-to-prioritise-energy-security/8230454