Its members include residents and health professionals. Currently the sale is under investigation by the Foreign Investment Review Board (FIRB) with its decision to be announced in mid-October 2022. Please try again later. 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. Thermochemical reactions drive the other two methods. 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. 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. 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. Mr . 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 to receive an email with the top stories from Guardian Australia every morning. 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. Vales Point uses salt water from Lake Macquarie for cooling. Access unlimited content, the digital versions of our print editions - Today's Paper, as well as the Newcastle Herald app. Vales Point Power Plant is owned by Delta Electricity, but in September the company announced that the plant is being sold to Czech family investment group Sev.En Global Investments. Vales Point was the first major power station in New South Wales to be located near its fuel source (coal). 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. 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. Read our Privacy Policy. It produces about four per cent of the electricity supplied to consumers in the National Electricity Market. 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. 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. The EPA has the chance to take a good look at this before issuing the new owners with a licence to pollute, she said. 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. It leaves the Morrison governments UNGI program has still having supported no new generation investments, despite being first announced in October 2018, and announcing a dozen shortlisted projects more than two years ago. Carbon Monitoring for Action estimates that Vales Point emits 9.32 million tonnes of greenhouse gases per year from burning coal. [5] The balloon loop opened in March 1980. . 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. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. A failure to act is no longer an option, Mr Chappel said. 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. 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. 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. In 2022, an air pollution exemption granted to Vales Point power station by the NSW EPA was successfully challenged by environment and legal groups, who argued that community health impacts of toxic air emissions - including childhood asthma and premature deaths were - being ignored, pointing out that Vales Point routinely breach NSW air protection laws. The power stations end of technical life is set for 2029. It is not what the community wants, because of climate change, and because of the environmental impacts of coal-fired power on our health. (NB only name and email is required to sign the petition - contact details are optional), You can further help this campaign by sponsoring it. Vales Point Power Station February 17, 2022 Delta Energy's plans for Vales Point power station at Mannering Park will go unchanged despite the announcement by Origin Energy on February 17 that it will close Eraring - Australia's largest power station - seven years early. 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. 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. One is electrolysis that uses electricity to split water, which can be powered by renewables in an emissions-free process and is known as green hydrogen. On Tuesday Kean said he was still expecting the plant to close by 2029, saying the state had plans in place to ensure that the capacity of Vales Point is replaced by that time. Sign up to The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. 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. 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. This field is for validation purposes and should be left unchanged. Future Sooner is a community action group working towards a clean energy future for the Central Coast and Lake Macquarie. AGL Energy announced it would move the. 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. AGL said it was still committed to its plans for Liddell. To learn more about how we use information collected with cookies, please read our Privacy Policy. Delta Electricity has stated that Vales Point's "nominal closure" is due in 2029. . The Lake Macquarie community and the Lake itself has long suffered as a result of pollution from the Vales Point power station. 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. Phone: 02 4352 6111 We will not spam you or sell your details. 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. "Hundreds of thousands of people living near Australia's largest power station do not know what they are breathing," the report states. At home, the National Energy Resources Australia is offering $1.7 million in seed funding for hydrogen business to set up industry hubs, the Clean Energy Finance Corporation has a $300 million fund for hydrogen projects - including those powered by fossil fuels, and the Australian Renewable Energy Agency has $70 million available for green hydrogen projects. With this acquisition we will significantly strengthen our presence in Australia, said Sev.en chief executive Alan Svoboda. 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. 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. On this Wikipedia the language links are at the top of the page across from the article title. 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. 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. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. We continue to invest in the reliability of Vales Point to its notional closure in 2029. 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. 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. We oppose this sale as it is NOT in the local, state or national interest: For more detailed local information see the Lake Macquarie Hunter Recreational Fishing Guide Back to top Environment groups question whether ageing stations exemptions from some pollution standards are valid. 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. [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. 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. It is also harmful to the environment. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. Eraring is now scheduled for closure in 2025 and will leave Vales Point as the last electricity-generating station standing on Lake Macquarie, however, Vales Point is also scheduled for nominal closure in 2029. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. Vales Point 'A' Station was decommissioned in 1989. 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. 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 plant closures include the Vales Point power station, scheduled to shut in 2029-30. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. Michael Mazengarb is a Sydney-based reporter with RenewEconomy,writing on climate change, clean energy, electric vehicles and politics. The facility is old, dirty, and poorly maintained. 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. 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. 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. Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. 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. We make strategic investments with long-term commitment.. 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. 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. Its also unknown how the sale will impact the rehabilitation responsibilities for the power station ash dumps, she said. 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. This site uses "cookies" to give you the best experience on this website. The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. In its home market, it runs two coal power generators and two combined heat and power plants. . 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. Mr St Bakers proposal was also raised as the Federal Government approved the controversial Wallarah 2 underground coal mine north of Wyong, leading critics to warn the government could kiss goodbye to the Liberal-held Central Coast seat of Robertson because the community strongly opposes amine in the regions water catchment. In an open letter to the Newcastle Herald, eleven community environment groups from Lake Macquarie and the Hunter urge the Australian Treasurer, Jim Chalmers to reject the sale of the Vales Point power station for fear of worsening impacts. Vales Point Power Station sale completed December 18, 2022 by Merilyn Vale Sev.en Global Investments has announced it has completed its acquisition of Delta Electricity Pty Ltd, the parent company of the Vales Point Power Station and the Chain Valley Colliery. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity. For fossil fuel production to be clean carbon capture has to be tacked on to capture the emissions. A spokesperson for Delta Energy said there were no plans for Vales Point to go the same way as Eraring. The announcement today by Original doesnt change Vales Points position, said the spokesperson. EnergyAustralia announced on Wednesday its Yallourn coal plant would close in 2028, four years ahead of the previous deadline. 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. 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. 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. Delta Electricity and Mr St Bakers Energy Innovation Fund did not respond to calls for comment. . They would be Australias first high-efficiency, low emissions stations, Mr St Baker said. The NSW Government has responded to the closure of Eraring by saying that to ensure energy reliability, it will work with industry partners to install the Waratah Super Battery, a 700MW/1400MWh grid battery, by 2025 to release grid capacity so Sydney, Newcastle and Wollongong consumers can access more energy from existing electricity generation..

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