Coal-fired power stations have delivered high incomes to workers for decades. Their end will hurt their communities and workers, a new report says.
Governments may have to pour millions of dollars into supporting regional communities that depend on coal-fired power stations as the plants are shuttered, with new research revealing workers face a 69 per cent fall in income as they become redundant.
But e61’s research shows workers in communities such as Victoria’s Latrobe Valley, the Hunter region in NSW and the Collie region of Western Australia face a substantial hit to their incomes that may be difficult to recover from. The institute’s policy director, Dan Andrews , said research showed there were substantial policy issues ahead as governments sought to decarbonise the economy.“The benefits of the net-zero transition will be widely shared, but the costs are likely to be concentrated,” Andrews said.
As a major source of local employment, power stations could cause an increase in the jobless rate of the surrounding region when they close, if redundant workers are unable or unwilling to move. Separate research from the Actuaries Institute, to be published on Monday, reveals it is not just those in well-paid jobs who face financial pain.Not for syndication
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Voice leaders to end week of silenceIndigenous leaders devastated by the outcome of last Saturday’s Voice to Parliament referendum are set to end their week of silence this weekend, but what comes next remains unclear.
Read more »
From Footscray to Gaza, a trail of tears without endThe Australian Aborigines’ League could not ignore the persecution of the Jews by Nazis. What might the league’s founder, William Cooper, make of a new war?
Read more »
From Footscray to Gaza, a trail of tears without endThe Australian Aborigines’ League could not ignore the persecution of the Jews by Nazis. What might the league’s founder, William Cooper, make of a new war?
Read more »
Climate ‘loss and damage’ talks end in failureA crucial meeting on climate 'loss and damages' ahead of COP28 ended in failure Saturday, with countries from the global north and south unable to reach an agreement, according to sources involved in the talks.
Read more »
Top end of town fights back after pandemic: property economistsTop-tier firms have once again decided to lease large office spaces in the Brisbane CBD for the first time since the pandemic and the February 2022 floods, property consultants Knight Frank say.
Read more »
Mango prices on rise in WA as harvest yields fall by more than half across Australia's Top EndWith supply down by more than 50 per cent, WA supermarkets are struggling to fill shelves with the popular fragrant fruit amid an unusually light national harvest.
Read more »