It is also gearing up to invest more in the business as it seeks approval for a license to allow mining to continue until 2029. 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. Environmental Justice Australia solicitor Jocelyn McGarity said there were serious concerns the licence conditions were unlawful and that the plant should not be allowed to operate beyond 2029. 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. 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. 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. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity . On this Wikipedia the language links are at the top of the page across from the article title. Delta flagged early closure of Vales Point coal plant when it rejected federal grant | RenewEconomy 1 year ago Kim Grierson 1 year ago 1 year ago Apparently NSW retained the decommissioning liabilities Andy Saunders 1 year ago Prices that make it profitable? Billionaire Trevor St Baker will reignite plans for a 20-year extension of NSW's Vales Point coal power station amid fears the early closure of Origin Energy's giant Eraring plant may lead to market volatility and higher prices. Alinta Energys Hong Kong-based owner Chow Tai Fook Enterprises is understood to have fielded approaches for the Australian business, which includes the large Loy Yang B coal power generator in Victoria. [3], In September 2022 Sunset Power owners announced the sale of Vales Point Power Station to a Czech family investment group Sev.En Global Investments.[4]. The study also criticized the absence of air pollution monitoring within 25 km of Eraring and the nearby Vales Point power station. In February, Prime Minister Scott Morrison promised Liberal party donor and part owner Trevor St Baker that an $11 million grant would be going his way to make upgrades. Its like selling an unregistered car. 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However, a 2015 report from the state government's Coal Innovation Fund says the CCS . Kean confirmed exemptions granted to Delta during the purchase including a cap of $10m on rehabilitation likely to cost hundreds of millions of dollars would remain in place despite the sale. Delta flagged early closure of Vales Point coal plant when it rejected 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. 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. Your digital subscription includes access to content from all our websites in your region. 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. It was a good letter from Anne Aldcroft (CCN380) regarding dog owners not doing their duty. In an application to the EPA, the power stations owners had requested a further five-year license exemption which allowed for the emission of more than 800mg per cubic metre of nitrogen oxide (NOx) per day. We do not want this in foreign hands. Cooking with gas: How bad for your health is it, really? Vales Point is a coal-fired power station which supplies baseload electricity. 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 Baker said Evie Networks was moving into a capital-intensive phase with the rollout of 300 fast charging stations around Australia, while he was also involved in developing e-mobility in the Philippines. Vales Point Power Station exemption application It produces about four per cent of the electricity supplied to consumers in the National Electricity Market. who bought Vales Point power station from the NSW Government for a song in 2015, The power station offloaded by the NSW Government for $1 million suddenly has a future, clean up a huge part of the power stations ash dam, a dramatic increase in fine particle pollution, Department of Planning gives green light for Vales Point solar energy project, NSW Ports labels Newcastle container terminal 'white elephant' in parliamentary inquiry submission, Former professional surfer Jake Sylvester rescues swimmer at Merewether Beach, Wollombi Music Festival bans Wicked camper vans, National Farmers Federation and Agriculture Minister slam Aussie Farms interactive map of Australian properties, Train replica gives Newcastle something to choo on, Jets captain questions referee calls in controversial loss to Wellington, Police seek help to find 59-year-old missing from West Wallsend, Four assaulted in armed home invasion by five men wearing balaclavas, Toohey's News: Twin Towers key to Knights' rebuild, Terms and Conditions - Digital Subscription, Terms and Conditions - Newspaper Subscription. A failure to act is no longer an option, Mr Chappel said. Custom Content. 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. Newcastle GP andpublic health academic Dr Ben Ewaldsaiddata from existing Hunter and Central Coast power stations provided more evidence of the need to replace old coal-fired power stations with renewable energy. Delta has been contacted for further comment. While Delta secretary Steve Gurney said the sale of Vales Point was a completely unrelated commercial matter to the emissions issue, Nature Conservation Council chief executive, Jacqui Mumford, said the new owners should be required to slash the stations pollution so that people across NSW can breathe healthier air. Cockle Creek Power Station - Wikipedia Coal plants list deadlines when their operating life is set to cease, but Dr Mountain said Victoria has secured a valuable guarantee that Yallourn will be available to produce until 2028, and if the company brings forward closure the state will receive compensation. As owners for the last eight years, Esprey and St Baker Family Trust have positioned the business to continue essential operations through the energy transition, but recognise that there are opportunities to grow the business and that this can be better accomplished in a portfolio with Sev.ens other base-load capable generation interests, he said. air pollution exemption granted to Vales Point power station by the NSW EPA was successfully challenged by environment and legal groups. The announcement today by Original doesnt change Vales Points position, said the spokesperson. In 1978, two Toshiba 660 MW units were added, becoming "B" Station. The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. The largest coal plant in the state AGLs 2880 MW Eraring Power Station, will be closed in 2025. Its also unknown how the sale will impact the rehabilitation responsibilities for the power station ash dumps, she said. the Liddell plant is owned by AGL which has rejected a proposal to sell the site as they have their own plans to redevelop the site. Plunging energy prices sink Vales Point power station When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. The REZ will not only attract investment in clean energy, it will also underpin the growth of new low-carbon industries such as green hydrogen, ammonia and metals production which the world is going to need as it decarbonises, Mr Crouch said. . 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. The sale price was not included in the press statement released on Saturday, December 17. We care about the protection of your data. 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. [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. Contents 1 Location 2 Background on Plant 3 Carbon capture project 4 Environmental Impact 4.1 Air pollution 4.2 Coal ash dam 5 Future shutdown date 6 Interest in buying Liddell coal plant However. The generation table uses eljmkt nemlog to obtain generation values for each year. AGL said it was still committed to its plans for Liddell. The operator applied for an exemption granted in December 2021 with a reduction variation and additional conditions imposed by the NSW Environment Protection Agency. Follow our Australia news live blog for the latest updates, sold the 1,320-megawatt Vales Point power station, likely to cost hundreds of millions of dollars, seeking approval to pay a senior barrister. Lake Macquarie Home Fishing Fishing closures, restrictions and permits Lake Macquarie The above closures are generated from the Fisheries Management (General) Regulation 2019 unless otherwise specified. The sale reportedly netted Delta $200m despite the company paying only $1m to buy it from the NSW government in 2015, prompting the states opposition to accuse the Coalition of having dudded taxpayers over the sale. 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. 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. Leading Edge Energy is proud to be a signatory of the National Customer Code for Energy Brokers, Consultants and Retailers. Delta said it did not make financial sense to proceed with the upgrade with the smaller grant amount, given ongoing uncertainty in the energy market and the looming closure of the power station, currently slated for 2029. Coal transport and infrastructure in Australia, Key developments in coal mining and power in Australia in 2012, Financing coal power stations in Australia, Underwriting New Generation Investments program, "Delivering affordable and reliable power", "Federal government shortlists upgrade of Vales Point power station turbine", https://www.gem.wiki/w/index.php?title=Vales_Point_A_power_station_(replacement)&oldid=241402, Creative Commons Attribution-NonCommercial-ShareAlike. 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. Eraring and Vales Point power stations could be running multi-million dollar annual losses by 2025, the Institute for Energy Economics and Financial Analysis report found. Analysts identified particular economic risk for Vales Point coal power near Newcastle, the same region where NSW Energy Minister Matt Kean will today announce a $70 million fund to grow a green hydrogen industry, which he said would bring jobs and growth to the region.
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