The Hunter Hydrogen Hub will drive new low carbon jobs and help to set up the regionfor the future, Mr Kean will say. Officials from the department told Senate Estimates in March that they were aware that Shine Energy was likely to fail to deliver a bankable feasibility study into a proposed Collinsville coal fired power station after an audit undertaken by the Australian National Audit Office found the $4 million in grant funding awarded to the company was not enough to ensure the study could be completed. Future: Part of the Vales Point power station on the Central Coast. Sign up to The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. The first two units were completed in 1963, and the third in 1964. Phone: 02 4352 6111 Meanwhile, EnergyAustralias owner CLP Group, also based in Hong Kong, is in the market for partnerships to support future investments to support the decarbonisation of the countrys third-largest power and gas supplier. When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. This site uses "cookies" to give you the best experience on this website. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW. The report,China at a Crossroads: Continued Support for Coal Power Erodes Countrys Clean Energy Leadership,found Chinese financial institutions and corporations funded more than 25 per cent of all new coal plants outside China in 2018, or $35.9 billion for projects in 27 countries, excluding Australia. On Tuesday the NSW energy minister, Matt Kean, declined to weigh in on whether the sale was appropriate, but said the government would remain vigilant over the plant operations. The operator applied for an exemption granted in December 2021 with a reduction variation and additional conditions imposed by the NSW Environment Protection Agency. This field is for validation purposes and should be left unchanged. To learn more, read our Privacy Policy. Mr St Baker, who bought Vales Point power station from the NSW Government for a song in 2015 and made $113 million in profit on the deal in 2017-18, has outlined plans for a new plant at Liddell or Vales Point as part of a $6 billion proposal for three coal-fired power stations in NSW and Victoria. Energy Australia will close the Yallourn power station in Victoria's Latrobe Valley in mid-2028, four years ahead of schedule, and build a giant battery instead. Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSW's energy. Correspondence obtained through an earlier FOI request shows that Delta Electricity and the department undertook negotiations throughout 2020, ahead of funding being awarded in the federal budget. Commercial interest has been registered in 24 solar energy projects; 13 onshore and seven offshore wind energy projects; 35 large-scale batteries and eight pumped hydro projects. Vales Point provides 11% of NSW electricity. We call on Federal Treasurer the Hon Dr Jim Chalmers and the NSW Treasurer and Minister for Energy, the Hon Matt Kean, to refuse the proposed sale of Vales Point Power Station to Czech company Sev.en. (NB only name and email is required to sign the petition - contact details are optional), You can further help this campaign by sponsoring it. The coal for Vales Point is delivered by conveyor and a balloon loop connection to the Main Northern railway line between Wyee and Morisset. The black coal burned at Vales Point is more expensive than Yallourns brown coal, Mr Everett said, but Vales Point could be run with more flexibility to quickly ramp output up or down to better match demand limit production costs. Description. Follow the topics, people and companies that matter to you. It has previously been reported that the EPA briefed the states environment minister, James Griffin, over concerns about the exemption, as well as seeking approval to pay a senior barrister for advice on the legality of the exemption. But Tom Allen, director of Australian energy and utilities research with UBS, said the markets focus would be on the long-term viability of black coal-fired generators in NSW, particularly amid the NSW governments plan to ramp up renewable energy investment, which will place prices under further pressure. The Liddel power station in the NSW Hunter is already set to close in 2023, but the report said at least one more closure in the state is likely before 2025. Sign up for our newsletter to stay up to date. Local health professionals have analysed government health data and found shocking evidence of high cancer rates among residents in suburbs surrounding the power station and its coal ash dam each year an extra 107 cancer cases and 58 cancer deaths above the national average. The black coal operators run at a much higher short-run marginal cost and so those nearing the end of their technical lives may be re-evaluating their closure dates, Mr Allen said. If you disable this cookie, we will not be able to save your preferences. [1], In March 2019 Prime Minister Scott Morrison announced that Delta Electricity's proposal had been shortlisted but provided no details.[2]. Vales Point is a coal-fired power station which supplies baseload electricity. EnergyAustralia announced on Wednesday its Yallourn coal plant would close in 2028, four years ahead of the previous deadline. Leading Edge Energy is an energy brokerage firm in Australia that specialises in energy cost reduction, solar and storage procurement, electricity and natural gas-use monitoring and reporting for commercial and industrial clients. It just staggers me that Australia is so far behind the rest of the world which is switching to renewables while were still talking about projects like this, Ms Wynn said. Whoever owns these assets, I want to make sure they are acting in the interests of the citizens of this state, not for vested interests, he said. Delta chief executive Greg Everett said the proposed deal, which has yet to be approved by the Foreign Investment Review Board, was a positive development for Delta and its stakeholders. At the same time, embattled AGL Energy is struggling to determine its forward strategy and put in place a refreshed board after the collapse of a demerger plan and as its biggest shareholder, software billionaire Mike Cannon-Brookes, pushes for a faster exit from coal power to align with the goals of the Paris climate accord. The power station's end of technical life is set for 2029. It is understood that the joint owner of Delta, and significant political donor, Trevor St Baker, had been told informally in early 2020 that it was set to receive $11 million in grant funding from the Morrison government to fund the $20 million turbine upgrade. The EPA also stipulated that Delta must investigate, mitigate and report on the causes of NOx emissions when the 1320-megawatt generator operates at less than half its capacity. Sep 18, 2022 - 3.16pm Energy entrepreneur Trevor St Baker and coal investor Brian Flannery will sell their Vales Point coal-fired power station in NSW for several hundred million dollars to. The analysis found if power prices continued to decline, Yallourn, along with the Eraring, Mt Piper, Vales Point B and Gladstone black coal plants would be making a loss by 2025. Sign up to Guardian Australia's Morning Mail, Our Australian morning briefing email breaks down the key national and international stories of the day and why they matter. The value of the NSW coal power plant was cut to $156 million, down from $732 million in 2017 when power prices skyrocketed after the closure of the Hazelwood power station, documents. [2] However, in December 2021, the value of the plant was cut to $156 million and the annual profit was reduced 93% to $9.3 million. [1], In 2017 it was valued at $732 million, and was estimated to make part-owner energy entrepreneur and former National Party candidate Trevor St Baker a half billionaire. Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. Its a two years exemption, then we can apply for another period of time. Mr Taylor set a January 23 deadline for 24 hour baseload reliable projects eligible for government underwriting. Environment groups say an ageing coal-fired power station in New South Wales that sold for hundreds of millions of dollars may be operating in breach of the states clean air laws. Granted in December last year, the exemption allows the operators to emit a higher level of nitrogen oxide than usually allowable under clean air regulations. NSW plant closures include the Vales Point power station, scheduled to shut in 2029-30. If Vales Point power station is allowed to operate beyond 2029, we know it will have continued serious consequences for the health of the community. Your digital subscription includes access to content from all our websites in your region. Federal Energy and Emissions Reduction Minister Angus Taylor said last month that the industrys potential cannot be ignored and argued that Australia can attract $70 billion of investments over the next decade. We know that the emissions meet the National Environment Protection Measures for NOx, but weve got the environment groups position. When there are renewable energy alternatives available, like the Star of the South project, that will generate clean energy and create local jobs, there is no excuse for building more, big polluting coal projects that pollute our air and make our communities sick, Ms Rivers said. Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. It was a good letter from Anne Aldcroft (CCN380) regarding dog owners not doing their duty. We will continue to invest in the station both for ongoing energy needs and for system security, said the spokesperson. The Stop the Sale of Vales Point Power Station and Close It Down petition to Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean was written by Future Sooner and is in the category We continue to invest in the reliability of Vales Point to its notional closure in 2029. Parliamentary Secretary for the Central Coast, Adam Crouch, said the results of the registration of interest showed that the region was set to reap the jobs and investment rewards from the transformation of the energy system. USE is forecasted to be greater than the reliability standard from 2027-28 in New South Wales, increasing further from 2029-30 when Vales Point Power Station is expected to retire. One uses gas and the other uses coal or gas, and for either to be a clean energy source they require carbon capture and storage to stop the emissions from the fossil fuels entering the atmosphere. Mr St Bakers proposal for a singleNSW plant and two new power stations in Victorias Latrobe Valleywas slammed by environment and community groups, who said the high-efficiency, low-emission plants were only one-third less polluting than highly polluting old power stations on the proposed sites. But it also represents a significant expansion of Sev.en in Australias coal power sector beyond its interest in Queenslands InterGen, with the suggestion that further investments in the domestic energy sector may be on the cards. Environmental Justice Australia director of advocacy and research, Nicola Rivers, said it was gob-smackingthe Australian Government would look to Mr St Baker as they seek energy solutions for the future, particularly given his companies rejection of infrastructure to limit pollution from existing power stations. Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. Its been a double whammyin the last couple of days first Wallarah 2, which is the Central Coasts Adani, and now this, another coal-fired power station proposal., Read more:Department of Planning gives green light for Vales Point solar energy project. The generation table uses eljmkt nemlog to obtain generation values for each year. It produces about four per cent of the electricity supplied to consumers in the National Electricity Market. Delta said it complies with the reduced limits for emissions imposed in December 2021 and noted that Vales Point has lower licence limits for NOx than some other generators in NSW such as AGL Energys Bayswater and EnergyAustralias Mt Piper plants. The script is starkly similar when it comes to water pollution from Vales Point, with offsite water contamination from the south-east portion of the ash dump identified in the Environment Protection Licence this year. . [9][10][11], Vales Point Power Station was used as the location for the Midnight Oil US Forces music video.[12][13]. Publicly owned until 2015 when sold to Sunset International Power for $1 million, the deal capped the new owners site rehabilitation costs to just $10M. The decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney said. In the context of the confluence of the above factors, Delta will not pursue the Vales Point power station efficiency project. The proposal isin response to Federal Energy Minister Angus Taylors call in September for fair dinkum baseload power generation after the Federal Government lost a public battle with generator AGL over the closure of Liddell power station in 2022. The Vales Point Power Plant is currently set for closure in 2029, but the EPA ruling delivered on 28 October 2022 could bring that date forward to 2025. Vales point already has an exemption licence to pollute over and above NSW emission controls. At Delta, which supplies about 11 per cent of NSWs power, RBC is thought to have run a process to sell either 50 per cent or 100 per cent, with Mr St Baker originally keeping open an option to retain his stake. The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. and Evie Networks, among other energy interests. The ageing Vales Point coal-fired power station on the New South Wales Central Coast, due to close in 2029, was given a stay of execution in the federal budget. Email: info@de.com.au, {"type":"HYBRID","minzoom":false,"maxzoom":false,"types":["ROADMAP","SATELLITE","HYBRID","TERRAIN"],"mappingservice":"googlemaps3","width":"600px","height":"500px","centre":false,"title":"","label":"","icon":"","lines":[],"polygons":[],"circles":[],"rectangles":[],"copycoords":false,"static":false,"visitedicon":"","wmsoverlay":false,"zoom":16,"layers":[],"controls":["pan","zoom","type","scale","streetview","rotate"],"zoomstyle":"DEFAULT","typestyle":"DEFAULT","autoinfowindows":false,"resizable":false,"kmlrezoom":false,"poi":true,"cluster":false,"clustergridsize":60,"clustermaxzoom":20,"clusterzoomonclick":true,"clusteraveragecenter":true,"clusterminsize":2,"imageoverlays":[],"kml":[],"gkml":[],"searchmarkers":"","fullscreen":false,"scrollwheelzoom":false,"locations":[{"text":"","title":"","link":"","lat":-33.161011600000002,"lon":151.5452521,"icon":""}]}. The power station doesnt currently have a valid air pollution licence. Future Sooner is a community action group working towards a clean energy future for the Central Coast and Lake Macquarie. Vales Point was originally equipped with three turbo-alternators of 200 MW supplied by the English Electric (unit nos. AGL Energy has also brought forward the closure of its 2220 MW Loy Yang A plant in Victoria to 2035. Delta has been contacted for further comment. Cooking with gas: How bad for your health is it, really? On this basis, Delta respectfully and regrettably advises that it will not submit an application for UNGI grant for the proposed Vales Point power station efficiency upgrade project, Delta Electricity said. In December 2017, Origin Energy announced that it would close the . In a statement Mr St Baker highlighted the buyers commitment to growing the business. Managing director Greg Everett said the decision was not due to plans for an early closure, but rather the grant approval process and timing did not meet the companys own timeline for having works completed. Mr Kean will say the region has strong potential for green hydrogen, fuelled by renewable power sources, due to its access to existing energy infrastructure, sustainable water sources, ports and logistics. The project was moved to Vales Point Power Station in 2012, after Munmorah closed. the nominal closure of Vales Point . Wholesale power prices are meanwhile several times higher than the $40-$45 megawatt-hour range that prevailed when he and billionaire partner Mr Flannery bought the generator. Proponents of renewable energy and some business leaders haveraised concerns that financial supportfor hydrogen production powered by fossil fuels could artificially prolong the operation of the nations ageing fleet of coal-fired power stations, or create demand for gas which would be better directed to wind and solar projects. However. As previously revealed by RenewEconomy, Delta told the Department of Industry, Science, Energy and Resources in December that it would not proceed with a formal application for $8.7 million in grant funding that had been set aside in the 2020 federal budget. Vales Point uses salt water from Lake Macquarie for cooling. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. Vales Point was the first major power station in New South Wales to be located near its fuel source (coal). . To learn more about how we use information collected with cookies, please read our Privacy Policy. Feb 18, 2022 - 5.07pm. In public comments this week, the current owner of Vales Point, Trevor St Baker, indicated that Sev.en may seek to keep the station open beyond its current closure date of 2029, saying the company had shown a commitment to the sector and an ambition to expand, both in Australia and globally. A longstanding advocate of the need for round-the-clock dispatchable coal power, Mr St Baker said his decision to sell was more to do with wanting to redirect capital into his interests in electric vehicle charging than in any diminished conviction about the continuing need for coal-fired power as the transition to low-carbon power progresses.
Doberman Puppies For Sale In Georgia,
Darryl Dawkins Death Cause,
Davis County Jail Mugshots,
Articles V
