POSITIVE ENERGY
THE ‘DEATH SPIRAL’ AT WORK
The electricity generation company owned by the Northern Territory government says it faces an “existential risk” from the rise of solar power. It may be the first energy utility to openly recognise that the growth of cheaper renewables could spell the end of its traditional fossil fuel business.
Territory Generation has issued a frank assessment of its future prospects, saying its portfolio of predominantly gas-fired generation assets were losing out to lower cost solar alternatives that are becoming increasingly attractive to NT homes and businesses looking to reduce their energy costs.
“The introduction of solar power on residential and business rooftops as well as large scale solar farms provides a threat to the viability of Territory Generation,” they say.
“This is because the cost of producing
