The NSW government will increase coal royalties by 2.6 percentage points from July next year; Treasurer Daniel Mookhey says every dollar raised will be “ploughed back” into rebuilding essential services and cost-of-living relief. Follow updates here.
The soaring cost of meeting renewable energy targets in NSW has prompted the state government to consider delaying the closure of the Eraring power station, NSW Premier Chris Minns says.
Responding to claims my state Liberal MP Matt Kean that keeping the state’s largest coal-fired power station open for longer could cost $3 billion, Minns said the former treasurer had failed to inform the state that the government was off track on the delivery of almost all of its renewable energy zones.
The energy zones will help NSW produce 33 terawatts of renewable energy per year as it works towards achieving its ambitious target to halve emissions by 2030.“We have to produce 33 terawatts of renewable energy per year to the people of New South Wales via renewable energy by 2030.
Minns said the government had intended the Central-West Orana renewable energy zone to be up and running by 2025 at a cost of $650 million. However, it was now expected to be completed by 2028 at a cost of more than $3 billion, he said. “We’re keeping [the costs] as low as possible. It’s one of the reasons why we’ve spoken about keeping Eraring open to provide that reliable, cheap energy to the people of New South Wales as we execute this transition.”
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