Investor News

Herald Sun reports on ECT

Kosmas Galtos, Chief Executive
Kosmas Galtos, Chief Executive

Today's Herald Sun features an article by John Beveridge headlined:

Clean coal could be a winner, but there are question marks

The article highlights the potential emissions savings from using Coldry here in Victoria: "That efficiency benefit can range from about 20 percent by using dried coal in current brown coal stations right up to 45 percent if the dried brown coal is used to fuel the latest ultra-super-critical black coal power stations".

The article is correct in asserting a level of frustration. Educating some about the CO2 reduction potential of cleaner coal is difficult.

However, key messages out of a review by AIG of the Federal Governments taxpayer funded carbon schemes are clear:

  • Solar PV costs $300 per tonne of CO2 saved
  • Ethanol around $400
  • Average carbon scheme cost $168 per tonne

Our studies of gas and wind show them to be much lower than solar at $30 and $40, while CCS is somewhere between $72 and $112 per tonne.

Coldry can deliver significant CO2 reductions for less than $25 per tonne if deployed in Victoria's brown coal power sector, removing 27 million tonnes of carbon annually. All this while helping Victoria maintain its natural competitive advantage: cheaper electricity than the other states.

This is important if we want real results. Those ignoring the role of cleaner coal in achieving Australia's 20% target by 2020 are condemning us to unnecessarily higher prices because of a devotion to dogma instead of delivery.