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Australia's biggest grid has slashed its forecast for the end of coal-fired power by five years, as the nation's households drive a world-leading transition away from the fossil fuel.
The Australian Energy Market Operator noted the last coal-fired power utility will retire in 2037-38 under the most likely scenario in its draft biennial Integrated System Plan for domestic electricity market, compared with 2042-43 specified in the plan published in June 2022.
Power generating capacity needs to almost triple by 2050 to replace the generator and meet increase demand, and costs seen at A$121 billion ($81 billion) a year, the plan said.
Coal remained Australia's largest power source in the third quarter this year, at 56.3% against the total, according to the latest AEMO data, down from 58.6% a year ago.
(Writing by Rebecca Liu Editing by Harry Huo)
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