In our view, the risk of accelerating coal generation closures is increasing as the market makes room for the rapid addition of renewable generation.. Thermochemical reactions drive the other two methods. 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. The grant was to pay for upgrades to a turbine at the Vales Point power station, increasing its thermal efficiency, allowing an additional 30MW of output for the same amount of coal burnt. 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. It was a good letter from Anne Aldcroft (CCN380) regarding dog owners not doing their duty. Coal plant closures loom large as NSW backs hydrogen for the Hunter. 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 decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney 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. . Currently the sale is under investigation by the Foreign Investment Review Board (FIRB) with its decision to be announced in mid-October 2022. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.James Whelan Goldman Sachs said Vales Point, backed by energy mogul Trevor St Baker, was facing "closure potential". The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. 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. On this Wikipedia the language links are at the top of the page across from the article title. 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. 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. 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. Every time an old coal-fired power stations closes to be replaced by renewable energy, theres an immediate health benefit to communities within 100 kilometres of the facility, Dr Ewald said. Key points: Energy Australia will build a 350 megawatt, utility-scale battery in the Latrobe Valley by the end of 2026 The giant coal-fired Yallourn plant has been operating for 47 years This week Delta Electricity announced it sold the 1,320-megawatt Vales Point power station, located in the states Hunter region, to Sev.en Global Investments, owned by Czech billionaire Pavel Tyka. For fossil fuel production to be clean carbon capture has to be tacked on to capture the emissions. Vales Point uses salt water from Lake Macquarie for cooling. This field is for validation purposes and should be left unchanged. Mr . 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. Vales Point power station - Global Energy Monitor The Lake Macquarie community and the Lake itself has long suffered as a result of pollution from the Vales Point power station. Stop the Sale of Vales Point Power Station and Close It Down, Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. 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. Cockle Creek Power Station was located in Teralba, New South Wales, Australia on the banks of Cockle Creek. Mr St Baker said he was looking for international investors after Australian banks and major lenders ruled out exposure to coal project funding, in part because of climate change stranded asset risks. Vales Point is a coal-fired power station which supplies baseload electricity. In its home market, it runs two coal power generators and two combined heat and power plants. Vales Point coal-fired power station in NSW could be polluting in It is acidic, has an unpleasant odour and is highly corrosive. The turbines were removed in 1997; the boilers and buildings were demolished between 201114. Victoria Energy Policy Centre director Bruce Mountain said the Victorian government had struck an entirely sensible deal with EnergyAustralia to bring forward closure at Yallourn, which provided a long lead time of seven years for the market to fill gaps in power supply by 2028. 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. Owners of Vales Point power station turn down $8.7 million grant, blaming the Morrison government for taking too long to approve funds for turbine upgrades. 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. Only this week did the Federal Government flag that commercial interest in the Hunter-Central Coast Renewable Energy Zone (REZ) has been significant. Michael Mazengarb is a Sydney-based reporter with RenewEconomy,writing on climate change, clean energy, electric vehicles and politics. 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. AGL Energy has also brought forward the closure of its 2220 MW Loy Yang A plant in Victoria to 2035. The Vales Point coal power station was sold by the NSW government in 2015 for just $1 million. 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. 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Yalloun Power Station closure to put Newcastle's Vales Point in Delta Flagged Early Closure of Vales Point Coal Plant When I NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. Under . It is one of the chief causes of yellow-brown smog. 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. Vales Point was the first major power station in New South Wales to be located near its fuel source (coal). Subsequently, St Baker stated that the shortlisted project was for 20 MW upgrades of the two existing turbines at the Vales Point B plant. Trevor St Baker's plans to keep burning coal at Vales Point beyond 2050 Hoping that this means by 2029 transporting and storage of toxic coal dust via the eyesore transport chanel located over Rutleys road will cease and be dismantled ? Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. . [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]. We also request confirmation that Vales Point coal-fired power station will close in 2025 and will not receive another exemption licence. (Delta Electricity have also flagged the possibility of the proposed plant being built on the the site of the nearby Liddell power station, which is slated for closure in 2022. 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. 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. 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. In addition to its stake in InterGen, which has interests in the Millmerran and Callide power stations in Queensland, Sev.en owns four gas-fired generators in the UK and one of the largest metallurgical coal producers in the US, called Blackhawk Mining. [9][10][11], Vales Point Power Station was used as the location for the Midnight Oil US Forces music video.[12][13]. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago Delta Electricity and Mr St Bakers Energy Innovation Fund did not respond to calls for comment. Brisbane-based energy consultant Trevor St Baker and coal baron Brian Flannery. Federal Budget 2020: 'Scandalous' Vales Point coal project slammed When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. Vales Point Power Station Submission Guide - Nature Conservation 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. 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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. @ Copyright RenewEconomy 2020. Were sorry, this feature is currently unavailable. 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. Vales Point was originally equipped with three turbo-alternators of 200 MW supplied by the English Electric (unit nos. 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. 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. The EPA granted Delta an exemption to the licence, however, the exemption went hand in hand with an order to reduce daily levels. Cockle Creek Power Station - Wikipedia 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. 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. However. Strict new operating limits for Vales Point Power Station from 1 January Eraring power station closure: NSW taxpayers could foot part of the Environment groups question whether ageing stations exemptions from some pollution standards are valid. Invoice Validation & Network Tariff Analysis. Find them all here. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. 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. NSW government sells Vales Point power station for $1m St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. Solar feed-in tariffs cut again, despite much higher wholesale grid prices, How to double your old homes energy rating: Lessons from two efficiency retrofits, All-electric Polestar doubles sales, boosts margins as it prepares more EV models, EV battery recycler hits 95% recovery rate in world-first collection program, Electric vehicles grab record 6.8 pct share of Australia market as Tesla rules again. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. The announcement today by Original doesnt change Vales Points position, said the spokesperson. Nitric oxide oxidises in the atmosphere to form nitrogen dioxide. Private owners net millions in sale of ageing coal-fired power station in NSW, Original reporting and incisive analysis, direct from the Guardian every morning. This means that every time you visit this website you will need to enable or disable cookies again. We will not spam you or sell your details. The WHO annual guideline for NOx of 10 ug/m3 (4.87 ppb) is regularly breached at monitoring sites close to the Vales Point power station. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. Vales point already has an exemption licence to pollute over and above NSW emission controls. Were working to restore it. It produces about four per cent of the electricity supplied to consumers in the National Electricity Market. Eraring and Vales Point coal-fired power stations in the Hunter could 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. On the international front the Morrison government has committed $70 million to help develop a regional hydrogen export hub, and Australia has signed agreements with Japan, Korea, Germany and Singapore to investigate hydrogen supply chains. Stop the Sale of Vales Point Power Station and Close It Down Feb 18, 2022 - 5.07pm. Please try again later. For more detailed local information see the Lake Macquarie Hunter Recreational Fishing Guide Back to top The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW. Brian Flannery, Trevor St Baker sell Vales Point coal power plant to 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. In December 2017, Origin Energy announced that it would close the . Future Sooner, local residents and health professionals are deeply concerned if this sale goes ahead it will extend the life of this filthy, old, polluting coal-fired power station and prolong the damage that is already affecting our health, said Gary Blaschke OAM, resident of Lake Munmorah, cancer sufferer and Future Sooner spokesperson. Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. This page was last edited on 30 April 2021, at 11:25. Leading Edge Energy is proud to be a signatory of the National Customer Code for Energy Brokers, Consultants and Retailers. 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. 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. 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. By 2050, green hydrogen has the potential to drive $350 billion in investment across Australia in current dollars and up to $26 billion per year in additional GDP, supporting the emergence of new decarbonised industries such as green steel and ammonia.. 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. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.Credit:James Whelan. We use "cookies" to enhance your experience on our website. They would be Australias first high-efficiency, low emissions stations, Mr St Baker said. To learn more about how we use information collected with cookies, please read our Privacy Policy. 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? We make strategic investments with long-term commitment.. 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 listed Eraring, Vales Point and Mt Piper in NSW and Yallourn in Victoria as most vulnerable. We do not want this in foreign hands. Munmorah power station - Global Energy Monitor 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 practices of Delta Electricity, past and present that are driving a range of water pollution impacts in Lake Macquarie, the sale of the power station to Se.ven Global Investments, Closure planning, decontamination and rehabilitation. The deal comes amid an extended period of turbulence in baseload power generation in the National Electricity Market as cheap renewable energy flowing on to the grid makes it harder to operate baseload coal plants profitably, even amid surging prices for wholesale electricity. No need to search elsewhere for all the latest updates on the electricity market and energy-efficiency tips that are important for you, the savvy business owner. Sydney, NSW 2000 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.. 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. 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, the company also flagged that it remained open to shifting the closure date of the Vales Point power station, which was dependent on the prevailing conditions in the energy market. 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. Environment Justice Australia and the Nature Conservation Council have questioned whether the renewal of a licence granting the plant operators exemptions from some pollution standards for nitrogen oxide is valid because, they say, Delta applied for the renewal after the deadline. [3] The plan for a new 660-MW plant appears to be cancelled. Its members include residents and health professionals. NSW power station given shorter deadline on emissions Delta flagged early closure of Vales Point coal plant when it rejected Tap into Getty Images' global scale, data-driven insights, and network of more than 340,000 creators to create content exclusively for your brand. At a budget estimates hearing last month, Stephen Beaman, a senior regulator at the EPA, said the agency would be finalising its position very shortly 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 Hunter Hydrogen Hub will drive new low carbon jobs and help to set up the regionfor the future, Mr Kean will say. Its a two years exemption, then we can apply for another period of time. The Morrison governments low emissions investment road map is technology neutral which meanspublic funding is availableto green and blue hydrogen. 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. 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. Vales Point 'A' Station was decommissioned in 1989. Lake Macquarie - Department of Primary Industries
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