It is the second instance of the Morrison government failing to secure investment in new coal-fired generation infrastructure by offering insufficient funding support, following earlier revelations that the government had not provided sufficient grant funding to ensure proponents of a coal-fired power station in Queensland could complete a bankable feasibility study. 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. It was commissioned in 1978 and is located on the southern shore of Lake Macquarie. Two investors have bought one of NSW's largest coal-fired power stations for the price of a nice suburban house. The Morrison governments low emissions investment road map is technology neutral which meanspublic funding is availableto green and blue hydrogen. The first two units were completed in 1963, and the third in 1964. 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. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.Credit:James Whelan. Childhood asthma in the region has also been found to be extremely high (50% greater than in Sydney in spite of city transport fumes) and there is strong evidence that students who attend schools within a 10 Km radius of a coal fired power station have a reduction in learning outcomes due to the emissions from burning coal. 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. 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 Feb 18, 2022 - 5.07pm. 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 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. 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. (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. Sydney, NSW 2000 NSW power station given shorter deadline on emissions Stop the Sale of Vales Point Power Station and Close It Down It is acidic, has an unpleasant odour and is highly corrosive. When queried, the department told RenewEconomy that the funding set aside in the budget was considered to represent value for money. As of 2021, the Vales Point Power Station emits more toxic nitrogen oxide pollutants than allowable under the NSW Protection of the Environment Operations (Clean Air) Regulation 2021 in order to continue to legally operate (or otherwise cease operating), the operator applied for an exemption under its licence 761,[8] which was granted on 15 December 2021 with a reduction variation and additional conditions imposed by the New South Wales Environment Protection Authority. Im more interested now in what we are doing in electrifying the transport sector, absolutely critical steps forward in the rollout of charging infrastructure, he told The Australian Financial Review. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. 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. Delta has been contacted for further comment. 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. Cockle Creek Power Station - Wikipedia 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.. 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. The owner blamed the COVID-19 pandemic for reducing demand and an influx of cheaper renewables reducing wholesale electricity prices. The man who bought Vales Point power station from the NSW Government [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 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. The decision by the EPA now allows for these conditions and limits to remain in Deltas Environmental Protection Licence, Delta spokesman Steve Gurney said. Brian Flannery, Trevor St Baker sell Vales Point coal power plant to [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. 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. 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 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. 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. Cooking with gas: How bad for your health is it, really? 1 to 3) and one of 275 MW supplied by Associated Electrical Industries (unit no. However. 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. 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. 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. We know that the emissions meet the National Environment Protection Measures for NOx, but weve got the environment groups position. (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. Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. 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. 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. 15 December 2021. 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. 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. Qld to close coal-fired power station a decade early Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. 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. Environment groups question whether ageing stations exemptions from some pollution standards are valid. Sev.en has shown a clear interest in energy businesses in Australia, ensuring that it is well-placed to provide reliable generation through the energy transition, he said. 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. 15% of Wyong and 11% of Gosford population suffer from 3 or more chronic health conditions including asthma, cardiovascular disease and diabetes, compared to 5% or less across Sydney. All rights reserved. . To learn more, read our Privacy Policy. [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. In December last year, Vales Point was issued with an order to limit its emissions of nitrogen oxide. 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. 4 was brought into use in 1966. This will benefit customers, employees and system security for all energyusers.. air pollution exemption granted to Vales Point power station by the NSW EPA was successfully challenged by environment and legal groups.
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