Proposal for Government-Owned Renewable Energy Company Faces Opposition
The McKell Institute and the Electrical Trades Union propose a government-owned renewable energy firm, Sovereign Power, to support the Tomago aluminium smelter in New South Wales. Critics argue that this initiative could lead to economic losses and reflect bias against emerging industries.
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The proposal for Sovereign Power, a government-owned renewable energy company, aims to develop and operate renewable facilities to supply power to high-energy users like the Tomago aluminium smelter in NSW's Hunter Valley. Critics, including Federal Labor, argue that the initiative is flawed, potentially leading to significant economic losses.
Notably, the plan excludes data centers from favorable power rates, based on a belief that tech companies can afford higher costs. This exclusion raises concerns about prioritizing traditional industries over emerging sectors.
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