Monday, May 20, 2019

Genesis clings to coal

Back in 2015, SOE Genesis Energy committed to shutting down the last two coal-fired units at its Huntly power-plant by December 2018. Last year they pushed back that commitment to 2030. And now, they're weakening it still further:

The country's largest power company, Genesis Energy, is easing off its plan to stop using coal completely by 2030.


In February last year, Genesis announced an ambitious target to rid of the coal-fired units at Huntly, but chief executive Marc England is now wavering on that goal.

"Our intent is to remove coal by 2030 if we can."

Whether they can depends on the investment decisions they make now. The fact that they're weakening their target suggests that they have no intention of making the necessary decisions to meet it. Kindof like the New Zealand government's climate change targets for the past 20 years, really. But we can no longer afford to piss about; if Genesis won't commit to eliminating coal, the government must do it for them, by banning mining and imports. And if that is inconvenient for Genesis, well, they should have planned for a better future then.