We will not spam you or sell your details. We care about the protection of your data. Delta has been contacted for further comment. 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 Nature Conservation Council of NSW said that, unlike previous exemptions, this one cannot be extended beyond October 2027. These are known as blue hydrogen. 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. "Hundreds of thousands of people living near Australia's largest power station do not know what they are breathing," the report states. If you want to be updated with all the latest energy sector news, you can sign up for our newsletter or visit our blog section. [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. The sale, which was handled by RBC Capital Markets, takes Mr St Baker out of coal power at a sizeable profit on paper. 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. In order to supply coal to the station, three mines were opened; Chain Valley Colliery, Newvale No.1 Colliery and Wyee State Mine. It is also harmful to the environment. 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. 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. Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. Several coal-fired plants in New South Wales have brought their closure dates forward. Future: Part of the Vales Point power station on the Central Coast. Sold for a song in 2015, the site is expected to be the subject of a new coal-fired power station proposal. 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. and Evie Networks, among other energy interests. 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 Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW. Australia's fleet of coal-fired power stations are aging and many are due for decommissioning, and are being replaced by a combination of mostly renewable energy. Its like selling an unregistered car. The future of NSWs coal-fired power plants is under increasing threat from cheap renewable energy, which this week forced Victorias Yallourn coal plant to bring forward its closure date as analysts warn the end may come even sooner. Mr St Baker would not reveal the price of the deal, but said we didnt get close to $700 million. @ Copyright RenewEconomy 2020. 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. 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. Vales Point uses salt water from Lake Macquarie for cooling. Environment groups question whether ageing stations exemptions from some pollution standards are valid. Strict new operating limits for Vales Point Power Station from 1 January. Delta Electricity, which is jointly owned by Trevor St Baker and Brian Flannery, announced early in 2019 that it was seeking support for the proposal from the Australian Government's Underwriting New Generation Investments program. 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. 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. Its coal. 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. [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]. Michael Mazengarb is a Sydney-based reporter with RenewEconomy,writing on climate change, clean energy, electric vehicles and politics. Health at GoPetition. The Vales Point coal-fired power station near the shores of Lake Macquarie, in NSW.Credit:James Whelan. The turbines were removed in 1997; the boilers and buildings were demolished between 201114. 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. Our Morning Edition newsletter is a curated guide to the most important and interesting stories, analysis and insights. However, a 2015 report from the state government's Coal Innovation Fund says the CCS . [3] The plan for a new 660-MW plant appears to be cancelled. 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. The power station's end of technical life is set for 2029. In the context of the confluence of the above factors, Delta will not pursue the Vales Point power station efficiency project. . Before joining RenewEconomy, Michael worked in climate and energy policy for more than a decade. 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 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. 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 is one of the chief causes of yellow-brown smog. 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. 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. In December last year, Vales Point was issued with an order to limit its emissions of nitrogen oxide. 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. 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 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. NSW plant closures include the Vales Point power station, scheduled to shut in 2029-30. Phone: 02 4352 6111 This means that every time you visit this website you will need to enable or disable cookies again. NSW has committed to reach net zero greenhouse gas emissions, and the Hunter region is zoned for renewable energy development to help reach the goal. 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. A spokesperson for Delta Energy said there were no plans for Vales Point to go the same way as Eraring. 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. Mr . It is acidic, has an unpleasant odour and is highly corrosive. 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. 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. Recent state government announcements in Queensland and Victoria look to cut coal generation out of the energy mix as soon as possible. He floated the proposal only two weeks after the NSW Environment Protection Authority ordered Vales Point owner Delta Electricity to clean up a huge part of the power stations ash dam after dumped asbestos was found in building waste fill. All rights reserved. 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 Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. The operator applied for an exemption granted in December 2021 with a reduction variation and additional conditions imposed by the NSW Environment Protection Agency. Victoria's potential crunch comes with the 2028-29 closure of the Yallourn power plant in the. The power stations end of technical life is set for 2029. 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 Liddell plant is owned by AGL which has rejected . 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. NSW coal region councils join forces for huge renewable energy mandate, Japans pivot to renewables will kick Australian exports right in the thermals. St Baker said that financing the projects would not be sought from Australian banks but instead would rely solely on international lenders. Read more:The power station offloaded by the NSW Government for $1 million suddenly has a future. The proposed plant would adjoin the existing 1320 MW Vales Point power station owned by Delta Electricity. 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. Andy Saunders 1 year ago John John 1 year ago Andy Saunders 1 year ago 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. As outlined in the budget speech and subsequent announcement, the budget allocation has a funding cap of $8.7m, which is below that which Delta requested, leaving a substantially higher quantum of funding by Delta, Delta said in the letter. 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. Delta Coal which supplies Vales Point have an active proposal to continue mining largely exploited seams, ommunity fears over worsening pollution impacts from this aging facility under this potential new ownership, RSVP for updates and an invitation in 2023. 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. (NB only name and email is required to sign the petition - contact details are optional), You can further help this campaign by sponsoring it. 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. 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. We will continue to invest in the station both for ongoing energy needs and for system security, said the spokesperson. 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. Were carefully considering it and its an important decision to make and well be making that public shortly, he said. The NSW EPA noted that environment department modelling found that ground-level concentration of NOx in the community meets national health standards. The energy and materials can be provided by either renewable power and water, orcoal and gas. 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. 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. 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. Delta Coal which supplies Vales Point have an active proposal to continue mining largely exploited seams under the lake and ash dump until 2029 and community fears over worsening pollution impacts from this aging facility under this potential new ownership have been made public. . This page was last edited on 30 April 2021, at 11:25. Australia is positioning itself to tap the potential boom in hydrogen fuel, if its adopted globally as a replacement for petroleum. The ageing Vales Point coal-fired power station on the New South Wales Central Coast, due to close in 2029, was given a stay of execution in the federal budget. Coal-fired power will be needed to keep the lights on for another couple of decades, said Mr St Baker, who is an investor in fast charging system provider Tritium, which listed in New York early this year, and Evie Networks, among other energy interests. 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 EPA ruling has fuelled concerns that NSW may face an energy supply crunch in the coming years as coal swiftly exits the market. If the sale goes through, it will continue to pollute long past its slated 2029 closure date. The announcement today by Original doesnt change Vales Points position, said the spokesperson. Delta confirmed that it had terminated contracts with relevant suppliers for the turbine upgrades. NSW EPA Chief Tony Chappel said the exemption, coupled with the requirement to cut emissions strikes the right balance between safeguarding environmental health and supporting NSWs need for reliable and affordable energy. The study also criticized the absence of air pollution monitoring within 25 km of Eraring and the nearby Vales Point power station. [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]. Its also unknown how the sale will impact the rehabilitation responsibilities for the power station ash dumps, she said. Sign up for our newsletter to stay up to date. Custom Content. In our view, the risk of accelerating coal generation closures is increasing as the market makes room for the rapid addition of renewable generation.. Environmental Justice Australia director of advocacy and research, Nicola Rivers, said it was gob-smackingthe Australian Government would look to Mr St Baker as they seek energy solutions for the future, particularly given his companies rejection of infrastructure to limit pollution from existing power stations. 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. 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. With only an approximately seven-year operating life now remaining, and a very weak wholesale electricity forward curve, we believe Yallourns permanent exit may still be even earlier than now planned, Goldman Sachs analyst Baden Moore said. These fossil fuel power stations burn coal to power steam turbines that generate some or all of the electricity they produce. 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. But Delta managing director Greg Everett described the objections raised about the time limits for its application for an exemption as an administrative interpretation issue, not an environmental one. However. 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. 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. Delta Electricity and Mr St Bakers Energy Innovation Fund did not respond to calls for comment. 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. 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. 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. Cooking with gas: How bad for your health is it, really? Correspondence obtained by RenewEconomy through a freedom of information request shows that Delta Electricity cited ongoing policy uncertainty, questions about the long-term future of the plant and an inadequate funding offer from the Morrison government as reasons for cancelling proposed upgrades to Vales Point. We know that the emissions meet the National Environment Protection Measures for NOx, but weve got the environment groups position. Carbon Monitoring for Action estimates that Vales Point emits 9.32 million tonnes of greenhouse gases per year from burning coal. 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. 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. Follow the topics, people and companies that matter to you. Please try again later. 15 December 2021. The coal for Vales Point is delivered by conveyor and a balloon loop connection to the Main Northern railway line between Wyee and Morisset. Read our Privacy Policy. 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 already has an exemption licence to pollute over and above NSW emission controls. The transaction still needs to be completed, with approval from the Foreign Investment Review Board outstanding. DPE is currently assessing an application by Delta to consolidate and expand its Chain Valley and Mannering collieries. 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. He dismissed the suggestion that Vales Point would close earlier than 2029, particularly given the impending closure of its near neighbour, Liddell Power Station, in 2023. passenger locator form for germany,
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