Greens propose shutting down all Victorian coal-fired power plants by 2030

EnergyAustralia has said its Yallourn power station will close in mid-2028, despite being licensed to operate until 2032, and plans to build a 350-megawatt battery at a nearby gas-fired plant to compensate for the loss.

Until then the stations would be required to introduce clean technologies to monitor for pollutants such as sulphur, mercury and nitrogen.

As part of the Greens broader climate policy, $576m in funding would also be allocated between 2023 and 2035 for the Independent Latrobe Valley Authority to oversee the coal plant closures and the development of new industries, such as offshore wind, clean manufacturing and mine site rehabilitation.

When Hazelwood closed, electricity prices also rose by more than 10%. Read said the transition has to be managed carefully to ensure this does not happen again.

To fund their proposal, the Greens will make big banks, property developers and the gambling industry pay more tax and increase royalties on coal and gas corporations before they close.