Adani says coal is exiting electricity market too quickly

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Adani Australia chief executive says the demise of coal from the National Electricity Market has had a detrimental impact on prices

Coal is exiting Australia’s National Electricity Market too quickly, which is having a detrimental impact on local prices, the Australian head of Adani has said, fuelling an intense debate about how best to manage the country’s energy transition.

Several coal power stations will also exit the NEM within the next few years, stoking a ferocious debate about the impact on prices, reliability and local communities dependent on the fossil fuel for employment,which could flow through to the states most dependent on coal for electricity generation as the price of the commodity soars amid a global energy crunch.

Adani has largely kept out of the public spotlight, unlike in 2019, when the company became a lightning rod for a debate about the role of coal in Australia’s $2 trillion economy.

 

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