The Committee for Gippsland will release a major report into carbon transitioning in the Latrobe Valley this week. Our Region Our Future: Securing an economic future for Gippsland and Latrobe Valley will be launched by former Federal Energy, Resources and Tourism Minister the Hon Martin Ferguson, AM in Traralgon on Wednesday.
The nearly 100 page report is the culmination of 6 months of work undertaken by the Committee for Gippsland, which includes the input of over 200 small to medium businesses surveyed in the Latrobe Valley. Economic and employment modelling by consultancy GHD provides a snapshot of potential job losses to the region, and the economic impact to Gippsland and across Victoria. All up, nearly 300 Gippsland businesses and organisations have provided input to the report.
Our Region Our Future takes into account the likely potential of a Latrobe Valley power station closure in the near future, and the impact that will have on local jobs, as well as the Victorian economy. This includes direct job losses, indirect job losses, a decline in local expenditure within the region and state-wide, and an impact on electricity prices.
The report separates the discussion on the decline of coal for electricity generation, with the commercial opportunities available for coal to derivatives like fertiliser and hydrogen for electricity fuelled cars.
A reference committee has provided input and direction to the report, which comprises senior representation from all four power stations, local government, regional development, unions, small business, community groups, agribusiness, university and TAFE providers and local businesses that rely on power stations for their customer base.
The report makes a number of recommendations to state and federal governments on how carbon transitioning in the Latrobe Valley should be managed, including a regional adjustment package for investment in infrastructure and support for the region, as well as the recommendation that any power station closure be staged over a period of time to buffer the economic and employment impact.
If you would like to attend this launch please contact the Committee for Gippsland office on (03) 5623 3219 for further information. Attendance is by invitation and registration only.