Fat Prophets Resource Analyst David Lennox says the dramatic change in energy prices was a result of there being “no cheap coal".
“Primarily if you were digging it out of the ground you would want to send it overseas ‘cause that’s where you were getting the maximum price accretion from,” he told Sky News Business Editor Ross Greenwood.
“Not a lot of electricity here in Australia is actually generated through gas terminals, yes there are a few that really we still are reliant on those old-fashioned coal-fired power stations- and really they needed the coal as well.”
