admin /6 July, 2008
FOR the Brumby Government, “clean coal” is the state’s saviour. Like a shining white knight, it comes riding in, rescuing the state’s vast brown coal riches from the carbon scrap heap. The message is that clean coal technology will save not only 1370 jobs in the Latrobe Valley, but Victoria’s electricity supply itself.
However, as the day of reckoning approaches – when companies will have to pay for the pollution they emit – experts and industry leaders are not quite so sure the story will end so well.
A few days ago, Richard McIndoe, whose company TRUenergy owns Yallourn, one of the state’s big four brown coal power stations, warned that without Federal Government help to soften the impact of an emissions trading scheme, “the generators will be effectively bankrupt and therefore not able to operate from December 31” this year, because the value of the assets would be so diminished.