Hazelwood looking for taxpayer bailout of brown coal.

The press release below from FOE Melbourne explains how Hazelwood is asking to be bought out by the public. Lets just close the sucker already and move onto to a more sane energy policy in Victoria.

Revelations in the Australian Financial Review and Business Spectator today that UK based owners of the Hazelwood coal power station, International Power, is looking for a cash bailout from the government to close down Hazelwood exemplify the troubles plaguing the brown coal industry in Victoria.

Friends of the Earth Climate and Coal campaigner Louise Morris said, “the fact that International Power feels it has the right to approach the government for a tax payer funded multi-billion dollar bailout is indicative of the extremes our government will go tofor the dirty brown coal industry.”

“We have known for many years that Hazelwood is in dire straights in terms of it’s financial credentials and its future in a carbon constrained world as one of the industrialised worlds most polluting coal power stations. International Power, in it’s Green Paper submission to the federal government last year, admitted they did not have secured financial backers to keep Hazelwood operational past mid 2010.”

“It is abundantly clear that the Hazelwood coal power station is living on borrowed time, does not have the financial stability to go on operating, does not have a future under an Emissions Trading Scheme, and that the social licence for burning coal to make our toast in the morning, is gone,” said Ms Morris.

“It is not the job of taxpayers to bail out Hazelwood. It was due to shut down in 2009 in its initial start up proposal. Hazelwood has made billions of dollars while fuelling climate change. It does not deserve to be given additional bail outs or hand outs after making money from pollution.”

“If any company deserves government and tax payer funded support, it is companies like Solar Systems, who are pioneering job rich, climate friendly energy solutions for the future,” concluded Ms Morris.