Australia has a diverse range of energy resources, including coal, natural gas, oil, hydropower, solar, wind, and geothermal energy. However, the most reliable resource of energy for energy providers in Australia is currently coal.
Largest Exporter of coal
Australia is the world’s largest exporter of coal, and coal-fired power plants generate around 60% of the country’s cheapest electricity. While there has been a push towards renewable energy in recent years, coal remains a significant source of energy due to its reliability and affordability.
Abundant Renewable Energy Resources
That being said, Australia has abundant renewable energy resources, particularly solar, wind, cheap oil and gas which are becoming increasingly cost-competitive with traditional sources of energy. As technology advances and renewable energy infrastructure improves, it is likely that renewable energy will become an even more reliable resource of energy in Australia in the future.
Coal is one of the most abundant and important natural resources in Australia. Australia has the world’s largest reserves of coal, with over 149 billion tonnes of recoverable coal resources, representing 23% of the world’s total coal reserves.
Cost
The cost of coal in Australia varies depending on the type and quality of the coal, as well as factors such as location, transportation, and demand. In general, coal prices in Australia have been relatively low in recent years due to a global oversupply of coal and increased competition from renewable energy sources.
According to the Australian Bureau of Statistics, the average price of coal in Australia in the September quarter of 2021 was AUD 107.70 per metric tonne, which is an increase of 20.6% from the previous quarter. However, it should be noted that coal prices can fluctuate significantly depending on market conditions, geopolitical factors, and other economic variables.