Money Buyers lining up for coal, says Barnaby

04:51  13 september  2017
04:51  13 september  2017 Source:   msn.com

Energy shortfall could hike up electricity bills even more: AEMO Report

  Energy shortfall could hike up electricity bills even more: AEMO Report The Australian Energy Market Operator report is said to cite the risk of a major shortfall in baseload power that could drive up household electricity bills. Energy Minister Josh Frydenberg is set to publicly release the AEMO report this week after receiving the document on Monday.It was commissioned to inform the government's thinking on a clean energy target and other long-term policies to help boost investment in the power industry.

Deputy Prime Minister Barnaby Joyce says he knows of two enthusiastic buyers for the Liddell power station. "They (investors) know we will do the responsible thing to keep the capacity for coal -fired power in this nation," he said .

You know these energy companies are making record profits on the back of Australian families.” “Don't be No- Coal Joel,” Mr Frydenberg said . RELATED READING. Buyers lining up for coal , says Barnaby .

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Energy giant AGL won't have any problem finding a buyer for the ageing Liddell coal-fired power station, says Deputy Prime Minister Barnaby Joyce.

Barnaby Joyce gets moment in the sun after vicious week

  Barnaby Joyce gets moment in the sun after vicious week Malcolm Turnbull was in short sleeves in tropical Samoa. But it was Barnaby Joyce at home, having a moment in the sun as acting prime minister, if only for a day. It ended a vicious week-long Labor push to have the National Party leader stood aside from Cabinet, until the High Court decides on his eligibility to be elected to Parliament.Day-after-day, the opposition tried, but failed, to have parliament move to have him side-lined.So Mr Joyce remains, and assumed the Acting role he’s enjoyed previously when Mr Turnbull’s been out of the country.

Buyers lining up for coal , says Barnaby . AGL to consider extending life of Liddell power station. Mr Vesey has asked the government for 90 days to come up with an alternative plan to avoid an electricity shortfall after the closure of Liddell.

Former Deputy Prime Minister Barnaby Joyce explains why he thinks we need to back coal to reduce power prices.

AGL is considering whether to keep the Hunter Valley station open for another five years beyond its shutdown date of 2022 or sell it to another company.

Having met with Mr Joyce and Malcolm Turnbull in Canberra on Monday, AGL chief Andrew Vesey has also promised to report back to the government in 90 days on how to source 1000MW of reliable power beyond 2022.

But Mr Vesey insists the company can find the best solution for the energy market while still closing Liddell in 2022 as planned.

Mr Joyce said the best option was to keep the NSW station running for another five years.

The Nationals leader said he knew of two potential buyers.

"I've had people in my office who have said: 'I want to buy it'," Mr Joyce told Sky News.

Asked about a reported figure of between $500 million and $1 billion to upgrade the plant and keep it going, he said: "You are in a good range there."

Australian first home buyers are making a comeback

  Australian first home buyers are making a comeback Australian home loan lending fell in July, led by a sharp drop in investor loans. However, as investor activity continues to cool, there's renewed evidence that first home buyers are starting to take their place. According to the Australian Bureau of Statistics (ABS), housing finance fell by 0.9% to $33.027 billion in July in seasonally adjusted terms, led by a steep decline in investor lending which slumped 3.9% to $12.063 billion, the lowest level since August 2016. © Provided by Business Insider Inc From a year earlier, the value of investor lending fell 0.1%, the first decline since August 2016.

‘If you have an over-availability of coal it doesn’t make a lot of sense to invest more than a billion in building a coalmine,’ said Barnaby Joyce. The inherent business plan these coalmines used to be stacked up by is no longer there.

The comments came as the government weighs up how to implement a clean energy target, as recommended in a landmark report by Chief Scientist Alan Finkel.

Nationals members meeting in Canberra over the weekend passed a resolution to oppose such a target.

Former prime minister Tony Abbott told the coalition party room on Tuesday a clean energy target grafted onto the existing renewable energy target - which he wants scrapped - would "be a difficult position to sustain".

Australian Deputy Prime Minister and leader of the National Party, Barnaby Joyce. © SAEED KHAN/AFP/Getty Images Australian Deputy Prime Minister and leader of the National Party, Barnaby Joyce. Mr Joyce said investors cared about a clean energy target, but it must be set at a level "that keeps our baseload power in play".

"They (investors) know we will do the responsible thing ... to keep the capacity for coal-fired power in this nation," he said.

Labor says it will support a clean energy target to deliver certainty to investors, but want it set to promote greater investment in renewables.

Labor hedges on coal-fired power station

  Labor hedges on coal-fired power station Bill Shorten has likened a NSW power station to a 50-year-old car, but still is open to the idea of extending its life.Bill Shorten says Labor won't rule out supporting extending the life of a NSW coal-fired power station, despite comparing it to a 50-year-old car.

Deputy Prime Minister Barnaby Joyce says he would have no problem with the Government funding the development of future coal -power stations.

Todd says Joyce responded: ''The coal 's too deep but there's plenty of gas there.'' ''I don't know whether he bought it because of coal seam gas or what. Penny Blatchford, a cotton and grain farmer from an area south of Moree, will line up third on the Greens senate ticket in NSW.

Opposition Leader Bill Shorten asked the prime minister in parliament how the government could expect investors to decide on new generation - which would drive down power prices - without a target.

Mr Turnbull said it was "under consideration".

"We need to ensure that the energy market design provides a suitable framework for investment that doesn't simply get new generation, but gets generation of the right kind," he said.

"Because you have to keep the lights on, and you have to ensure that people can afford to pay to keep the lights on ... and of course we will meet our international emission reduction obligations."

Mr Shorten accused the coalition of inaction over power prices since the Abbott government was elected in 2013.

"The Liberals promised power bills would go down by $550 every year. They lied," he told Labor MPs.

"Under the Liberals, power bills have just gone up and up and up."

Rio Tinto announces $2.5 billion buyback, shares rise .
Rio Tinto announced a $2.5 billion share buyback today, following the sale of its subsidiary Coal &amp; Allied.Rio said that it would be returning part of the proceeds of the sale -- a $2.45 billion all-cash deal -- back to shareholders by way of a $700 million off-market buyback.

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