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. 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. 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. For more detailed local information see the Lake Macquarie Hunter Recreational Fishing Guide Back to top 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. 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. It was commissioned in 1978 and is located on the southern shore of Lake Macquarie. 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. This means that every time you visit this website you will need to enable or disable cookies again. The Nature Conservation Council of NSW said that, unlike previous exemptions, this one cannot be extended beyond October 2027. 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. 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.. Its also unknown how the sale will impact the rehabilitation responsibilities for the power station ash dumps, she said. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity . Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. [1], In March 2019 Prime Minister Scott Morrison announced that Delta Electricity's proposal had been shortlisted but provided no details.[2]. Vales Point provides 11% of NSW electricity. 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. Stop the Sale of Vales Point Power Station and Close It Down, Australian Treasurer Jim Chalmers & NSW Treasurer Matt Kean. 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 ? . 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 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. 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. While the Chinese government has signalled it will restrict coal lending, the country has yet to formally limit its investment in coal plants, the IEEFA report said. 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. The owner blamed the COVID-19 pandemic for reducing demand and an influx of cheaper renewables reducing wholesale electricity prices. It is acidic, has an unpleasant odour and is highly corrosive. Mr . Coal is carbon. Sev.en Group is a global, experienced and responsible operator of conventional power plants. Please try again later. 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. Please correct the marked field(s) below. . AGL said it was still committed to its plans for Liddell. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. Only this week did the Federal Government flag that commercial interest in the Hunter-Central Coast Renewable Energy Zone (REZ) has been significant. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. Its coal. Sign up to The Sydney Morning Heralds newsletter here, The Ages here, Brisbane Times here, and WAtodays here. Vales Point Power Station will have its limits on nitrogen oxides (NOx) emissions cut by up to 35% to meet new national air quality standards in the local community, and will have to adhere to strict new monitoring and reporting conditions from next year. The Hunter Hydrogen Hub will drive new low carbon jobs and help to set up the regionfor the future, Mr Kean will say. 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 transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. Given that the ongoing operation of the Vales Point power station remains subject to market forces, and noting the current forecast closure date of 2029 may come forward or be deferred on the strength of these market forces, the benefits arising from the remaining life of Vales Point power station and the proposed project have been diminished by the passage of time, Delta said. 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. 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. This will benefit customers, employees and system security for all energyusers.. With this acquisition we will significantly strengthen our presence in Australia, said Sev.en chief executive Alan Svoboda. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. The Vales Point coal-fired power station is expected to close in 2029 and there's concern the upgrade will extend this date even thought it's limited by state approvals, wiping out any emissions reduction benefits from the works. If you disable this cookie, we will not be able to save your preferences. Vales Point is a coal-fired power station which supplies baseload electricity. 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. Vales Point power station is a major source of NOx on the Central Coast and beyond. @ Copyright RenewEconomy 2020. . Feb 18, 2022 - 5.07pm. Cooking with gas: How bad for your health is it, really? 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? 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. offsite water contamination from the south-east portion of the ash dump identified in the Environment Protection Licence this year. 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. 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 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. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. 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. 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. the nominal closure of Vales Point . The Toshiba 660 MW turbo-alternator became the standard in New South Wales, with similar units later being installed at Eraring, Bayswater and Mount Piper. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. [6], Carbon Monitoring for Action estimates this power station emits 9.32 million tonnes of greenhouse gases each year as a result of burning hydrocarbon fuels.[7]. The largest coal plant in the state AGLs 2880 MW Eraring Power Station, will be closed in 2025. The announcement today by Original doesnt change Vales Points position, said the spokesperson. Strict new operating limits for Vales Point Power Station from 1 January. 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. 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. 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. The funding was to be provided as an ad hoc grant under the Morrison governments Underwriting New Generation Investments (UNGI) program, meaning the funds could only be used for Delta Electricitys proposed upgrades. Its a two years exemption, then we can apply for another period of time. 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. This field is for validation purposes and should be left unchanged. The Vales Point power station has been operating on the shores of Lake Macquarie since the 1960's and was constructed before NSW environmental protection laws came into effect. 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. This page was last edited on 30 April 2021, at 11:25. We continue to invest in the reliability of Vales Point to its notional closure in 2029. 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. 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. Several coal-fired plants in New South Wales have brought their closure dates forward. 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 fair dinkum" baseload power generation after the Federal Government lost a public battle with generator AGL over the closure of Liddell power station in 2022. 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. Vales Point was originally equipped with three turbo-alternators of 200 MW supplied by the English Electric (unit nos. 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 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. 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. The generation table uses eljmkt nemlog to obtain generation values for each year. 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. The big energy companies are also feeling the pressure from the Morrison government over the proposed closure dates for older coal-fired power stations. (NB only name and email is required to sign the petition - contact details are optional), You can further help this campaign by sponsoring it. 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. Delta has been contacted for further comment. (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. 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. Wikimedia. 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. We will not spam you or sell your details. "Hundreds of thousands of people living near Australia's largest power station do not know what they are breathing," the report states. 4 was brought into use in 1966. However, a 2015 report from the state government's Coal Innovation Fund says the CCS . However. 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. September 2022 Delta Electricity agreed to sell to Czech company, Sev.en Global Investments.
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