Wind 'cheaper than coal or gas in Australia'

Electricity from a new wind farm costs A$80 ($83) per MWh compared to A$143 per MWh from a new coal plant or A$116 per MWh from a new baseload gas plant, when fees paid on carbon emissions are included, finds research by Bloomberg New Energy Finance (BNEF).

Even without the carbon price introduced by Australia last year, wind energy is 14% cheaper than new coal and 18% cheaper than new gas.

“The fact that wind power is now cheaper than coal and gas in a country with some of the world’s best fossil fuel resources shows that clean energy is a game changer which promises to turn the economics of power systems on its head,” says Michael Liebreich, BNEF chief executive.

Wind power...