‘Stakes never higher’: energy board releases capacity market blueprint

Energy Security Board says fossil fuel generators might need to be paid to stay in business to retain capacity

Coal- and gas-fired power plants could be paid to stay in business to bolster the stability of the main electricity grid and attract enough investment to build the equivalent of 50 times the original Snowy Hydro scheme by 2050, according to a high-level design paper released by the Energy Security Board.

The fossil fuel generators would be required even as Australia continues to decarbonise the electricity sector, the paper released on Monday said.

Sign up to receive an email with the top stories from Guardian Australia every morning