[Greens-Media] Macquarie Generation sale will damage jobs, revenue and environment

[John Kaye]

Macquarie Generation sale will damage jobs, revenue and environment

Media release: 30 July 2013

The O'Farrell government's proposed sale of Bayswater and Liddell power stations and the associated development site will make the transition to a clean energy future much more expensive and disruptive, according to Greens NSW MP John Kaye.

Dr Kaye said: "NSW Treasurer Mike Baird is playing the short game.

"The O'Farrell government is grabbing a quick hit of cash to expand its infrastructure promises for the next election, despite the appalling long term consequences of selling the state's largest power generation undertaking.

"Bayswater and Liddell pump more than 34 million tonnes of CO2 into the atmosphere each year.

"The Bayswater B site which is bundled with them has development approval for 2000 MW of coal or gas and would be responsible for up to 13 million tonnes of CO2 each year.

"Handing these power stations and the development site over to the private sector will make the inevitable retreat from coal-burning generation much more expensive.

"A future private owner could hold the state to ransom when the unavoidable need to slash greenhouse gas emissions makes burning coal unviable.

"With up to 47 million tonnes of annual CO2 emissions, the sale is a greenhouse and economic disaster.

"The O'Farrell government should dump their privatisation plans and use public ownership to protect jobs and minimise the costs of the transition to a renewable energy economy.

"While the Treasurer claims Macquarie employees will enjoy a four year job protection, the legislation only provides for a two year guarantee.

"The harsh reality is that at the end of the employment protection period, jobs in the Upper Hunter will be slashed.

"The new owners will be seeking to maximise the return on their investment. This is bad news for consumers as they try to push electricity trading prices up and bad news for the environment as they seek to generate more energy.

"The O'Farrell government well may argue that they are short on cash but selling an income-generating asset makes no economic sense.

"It might help the Premier win the next election but the O'Farrell government will be remembered for pushing up power bills and imposing punishing costs on the taxpayers when the stations have to be purchased back and closed," Dr Kaye said.

For more information: John Kaye 0407 195 455





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John Kaye
Greens NSW MP

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Mail: Parliament House, Macquarie Street, Sydney, NSW 2000

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