Its coal. The owner blamed the COVID-19 pandemic for reducing demand and an influx of cheaper renewables reducing wholesale electricity prices. The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. 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. offsite water contamination from the south-east portion of the ash dump identified in the Environment Protection Licence this year. Level 7 The future of NSWs coal-fired power plants is under increasing threat from cheap renewable energy, which this week forced Victorias Yallourn coal plant to bring forward its closure date as analysts warn the end may come even sooner. A licence granted last year exempts the operators of the Vales Point plant, recently sold to Sev.en Global Investments, from nitrogen oxide pollution standards. The generation table uses eljmkt nemlog to obtain generation values for each year. NSW taxpayers might have to pay some remediation costs associated with the closure of Origin Energy's Eraring coal-fired power station when it shuts down in 2025. However. Sev.en has reputation for keeping old and polluting power stations open longer than their use-by date and has indicated the same for Vales Point. [5] The balloon loop opened in March 1980. Significant places & items of interest in the, New South Wales Environment Protection Authority, "NSW government sells Vales Point power station for $1m", Australian Financial Review (Subscription Required), "Vales Point power station privatisation put before auditor-general", "Plunging energy prices sink Vales Point power station", "St Baker and Flannery cash in on Vales Point coal plant in sale to Czechs", "Vales Point Power Station emission exemption application open for public comment", "New Vales Point pollution controls don't go far enough for environment groups", "Environment & Heritage | POEO Licences, Application and Notice Detail", "Strict new operating limits for Vales Point Power Station from 1 January", Electricity Commission of New South Wales, EnergyAustralia (state government enterprise), Sydney County Council (Sydney Electricity), List of power stations in New South Wales, Newcastle and Suburban Co-operative Society, Walsh Island Dockyard & Engineering Works, https://en.wikipedia.org/w/index.php?title=Vales_Point_Power_Station&oldid=1112958126, Coal-fired power stations in New South Wales, All Wikipedia articles written in Australian English, Infobox mapframe without OSM relation ID on Wikidata, Thermal power station articles using Infobox power station, Articles with unsourced statements from December 2021, Creative Commons Attribution-ShareAlike License 3.0, New England County Council (New England Electricity), North West County Council (North West Electricity), Northern Riverina County Council (Northern Riverina Electricity), Northern Rivers County Council (Northern Rivers Electricity), Peel-Cunningham County Council (PCCC Electricity), Shortland County Council (Shortland Electricity), Southern Mitchell County Council (Southern Mitchell Electricity), Southern Riverina County Council (Southern Riverina Electricity), Southern Tablelands County Council (Southern Tablelands Electricity), This page was last edited on 29 September 2022, at 00:23. This field is for validation purposes and should be left unchanged. Cooking with gas: How bad for your health is it, really? the Liddell plant is owned by AGL which has rejected . Energy analysts said the renewables-led collapse in average prices across the nations electricity grid was so severe that the 1480-megawatt facility supplying up to 22 per cent of the states power could close even sooner than expected. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.Credit:James Whelan. Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. These are known as blue hydrogen. In our view, the risk of accelerating coal generation closures is increasing as the market makes room for the rapid addition of renewable generation.. Currently the sale is under investigation by the Foreign Investment Review Board (FIRB) with its decision to be announced in mid-October 2022. These four units were known as 'A' Station, its capacity of 875 MW being the highest in New South Wales at the time. The owners of the Hazelwood coal plant in the Latrobe valley only provided five months notice ahead of its closure in 2017, which delivered a big blow to the workforce and Victorias power prices. The Cockle Creek power station was built by Caledonian Collieries Limited between 1925 and 1927 to use low grade coal to provide power to Caledonian Collieries mines and the surrounding townships in both the . The Lake Macquarie community and the Lake itself has long suffered as a result of pollution from the Vales Point power station. Several coal-fired plants in New South Wales have brought their closure dates forward. NSW is facing a potential shortage of reliable power as coal power stations shut down, with the closure of AGL Energy's Liddell plant in the Hunter Valley in April 2023 set to be followed. 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. Future: Part of the Vales Point power station on the Central Coast. Description. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. 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. In order to supply coal to the station, three mines were opened; Chain Valley Colliery, Newvale No.1 Colliery and Wyee State Mine. Sign up for our newsletter to stay up to date. Health at GoPetition. The region has significantly higher than national rates of six cancers: Colorectal (14% higher), Head & Neck (26%), Kidney (23%), Liver (26%), Lung (28%) and Pancreatic (17%). We make strategic investments with long-term commitment.. NSW plant closures include the Vales Point power station, scheduled to shut in 2029-30. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. 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 a letter obtained by RenewEconomy, Delta told the department that the funding was below the amount of funding the company had requested and left the company carrying too much of the cost. 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. In 1978, two Toshiba 660 MW units were added, becoming "B" Station. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago We already have really low NOx emissions, lower than Bayswater and Mt Piper, and we are doing operational changes, and we believe that we will meet whatever the requirements are going to be.. Delta Coal which supplies Vales Point have an active proposal to continue mining largely exploited seams, ommunity fears over worsening pollution impacts from this aging facility under this potential new ownership, RSVP for updates and an invitation in 2023. The expectation has been that the power station would close in 2029 and the clean-up could begin., Vales Point on southern Lake Macquarie stayed in government hands until 2015, when the Coalition state government controversially sold it to energy entrepreneurs Trevor St Baker and Brian Flannery for $1 million., 167 Parry Street,Hamilton East, NSW, 2303, AboutCampaigningResearch & ReportsSubmissionsVolunteerHCEC NewsMedia ReleasesEventsContact UsCommittee Records, Barrington - Hawkesbury Climate Corridors Alliance, Water pollution Datawatch: NSW power stations. In December 2021, the value of the power station was written down to $156 million and in September 2022 Delta Electricity agreed to sell to Czech company, Sev.en Global Investments. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. In 2021, the Vales Point Power Station emitted more toxic nitrogen oxide pollutants than allowable under the NSW Protection of the Environment Operations (Clean Air) Regulation 2021. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. The power station's end of technical life is set for 2029. Coal is carbon. The coal-fired Vales Point power plant in New South Wales must cut nitrogen oxide emissions within two years or may face early closure after a ruling by the Environment Protection Authority. 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. EnergyAustralia announced on Wednesday its Yallourn coal plant would close in 2028, four years ahead of the previous deadline. 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. It is one of the chief causes of yellow-brown smog. The Morrison governments low emissions investment road map is technology neutral which meanspublic funding is availableto green and blue hydrogen. The pair, who famously bought the generator for $1 million from the NSW government in 2015 and then revalued it at $722 million two years later, agreed to sell their respective 50 per cent stakes in Delta Electricity, the owner of the plant, to the family company Sev.en Global Investments. The Nature Conservation Council of NSW said that, unlike previous exemptions, this one cannot be extended beyond October 2027. The first two units were completed in 1963, and the third in 1964. 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. We oppose this sale as it is NOT in the local, state or national interest: A Morrison government plan to fund upgrades at the Vales Point coal fired power station fell through after the government offered insufficient funding for the upgrades to take place, with owners Delta Electricity warning the plant could close early, documents obtained under FOI show. Future Sooner is a community action group working towards a clean energy future for the Central Coast and Lake Macquarie. 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. The other legacies of coal power include environmental and community impact that cannot be ignored as the closure of power stations take place in NSW. Under . There are three methods to extract hydrogen. 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. That, environment groups say, has given new urgency for the NSW Environment Protection Authority to clarify the legality of a pollution exemption provided to the plant late last year. The study also criticized the absence of air pollution monitoring within 25 km of Eraring and the nearby Vales Point power station. It has been announced that the ageing Vales Point coal-fired power station on the Central Coast, NSW is to be sold by the Australian Delta Energy to the Czech fossil fuel investment company Sev.en, owned by billionaire Pavel Tyka. This will benefit customers, employees and system security for all energyusers.. But Delta managing director Greg Everett described the objections raised about the time limits for its application for an exemption as an administrative interpretation issue, not an environmental one. Follow us on LinkedIn, Facebook or Instagram. In the context of the confluence of the above factors, Delta will not pursue the Vales Point power station efficiency project. A Morrison government plan to fund upgrades at the Vales Point coal fired power station fell through after the government offered insufficient funding for the upgrades to take place, with owners Delta Electricity warning the plant could close early, documents obtained under FOI show. With this acquisition we will significantly strengthen our presence in Australia, said Sev.en chief executive Alan Svoboda. 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. We do not want this in foreign hands. Vales Point was the first major power station in New South Wales to be located near its fuel source (coal). When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. [citation needed], In November 2015, the Government of New South Wales sold Delta Electricity, which at that time owned only the Vales Point Power Station, to Sunset Power International for $1 million. 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. and Evie Networks, among other energy interests. NSW has committed to reach net zero greenhouse gas emissions, and the Hunter region is zoned for renewable energy development to help reach the goal. Nitric oxide oxidises in the atmosphere to form nitrogen dioxide. 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. Please try again later. 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 a private Czech firm in what represents a further upheaval in the fast-changing sector. It was a good letter from Anne Aldcroft (CCN380) regarding dog owners not doing their duty. The sale will facilitate this growth as Sev.en has shown a commitment to the sector and an ambition to expand, both in Australia and globally.. Carbon Monitoring for Action estimates that Vales Point emits 9.32 million tonnes of greenhouse gases per year from burning coal. Stop the Sale of Vales Point Power Station and Close It Down, Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean. Mannering Park Progress Association spokesperson Sue Wynn said a new coal-fired power station at Vales Point was the worst news Mannering Park and surrounding areas could possibly hear. St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. As outlined in the budget speech and subsequent announcement, the budget allocation has a funding cap of $8.7m, which is below that which Delta requested, leaving a substantially higher quantum of funding by Delta, Delta said in the letter. . It is also harmful to the environment. Wikimedia. 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. 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. Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. 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. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. [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. The WHO annual guideline for PM2.5 of 5 ug/m3 is breached across the Sydney Greater Metropolitan Area, and coal power station NOx is a significant contributor to this pollution. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. [3] The plan for a new 660-MW plant appears to be cancelled. Vales Point was commissioned in 1978, and its two turbines generate 1,320 megawatts of electricity, accounting for 11 percent of NSW's energy. Mr St Bakers announcement came as the Institute for Energy Economics and Financial Analysis (IEEFA) released a report on Monday showing Chinese finance is increasingly stepping in as the lender of last resort for coal plants, as other banks take active measures to restrict their funding. 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. 15 December 2021. POWER magnate Trevor St Baker is expected to lodge a proposalwith the Federal Government today for a new Hunter or Central Coast coal-fired power station with a Chinese joint venture partner. The role of Deltas Vales Point power station in two devastating fish kills that took place in mid-2002 in Wyee Bay are currently under investigation by the NSW EPA. . Help using this website - Accessibility statement, Alinta Energys Hong Kong-based owner Chow Tai Fook Enterprises is understood, EnergyAustralias owner CLP Group, also based in Hong Kong, is in the market, AGL Energy is struggling to determine its forward strategy. Mr . 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. Read our Privacy Policy. Sydney, NSW 2000 . Coal plant closures loom large as NSW backs hydrogen for the Hunter.
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