Coal Power Struggle is a Really Messy Business

Sydney Morning Herald reported that dirty coal producers in Australia may be paid to shut down.

The market news is quoted as saying:

Just to be sure they can cope, the coal-fired generators are being showered in transitional assistance, by way of free pollution permits. In 2009, it was the Electricity Sector Adjustment Scheme, providing permits worth $7.3 billion over 10 years under the Carbon Pollution Reduction Scheme. This time around it’s just $5.6 billion over five years, more tightly focused on the brown-coal generators, but still generous – and there’s an unspecified amount for closure contracts on top.

To read the full market news, click here.