Labor MP Joel Fitzgibbon says Australians “can’t afford” government policies looking to prematurely close coal-fired power stations as coal trade to Asia is booming.

“Seaborn thermal coal trade in volume terms doubled between 2006 and 2019, hundreds of coalfired power generators are being built throughout Asia because those big growing nations need all the coal, gas, nuclear, wind, and solar energy they can get their hands on,” he told Sky News host Chris Kenny.

Mr Fitzgibbon said green steel was “many decades away” but Australia’s power sector is transitioning enough to permanently close coalfired power stations at the end of their physical lives.

“We cant afford government policies that close those power generators, those coalfired power generators, any earlier than the end of their physical lives because if we do we will pay a very heavy price both in terms of the stability of our electricity grid and in terms of price.”