Eraring Energy

Last updated

Eraring Energy
Type Government-owned corporation
Industry electricity generation
Founded2 August 2000 (2 August 2000)
Headquarters
Sydney
,
Australia
Key people
John Priest, Murray Bleach and Ian Murray (Directors)
Peter Jackson (managing director)
RevenueDecrease2.svgA$609m [1]
Decrease2.svgA$584m [1]  (2011)
Decrease2.svgA$(664m) [1]
Total assets Decrease2.svgA$1,178m [1]
Total equity Decrease2.svgA$999m [1]
Owner Treasurer of New South Wales – 1 share
Minister for Finance and Services – 1 share
Number of employees
Increase2.svg 406 [1]
Parent New South Wales Government
Website www.eraring-energy.com.au

Eraring Energy was an electricity generation company in Australia that was owned by the Government of New South Wales, and had a portfolio of generating sites using thermal coal, wind, and hydroelectric power. It was sold to Origin Energy in 2013. [2] [3]

Contents

Eraring Energy was established in 2000 under the State Owned Corporations Act, 1989 (NSW) and the Energy Services Corporation Act, 1995 (NSW).

Generation portfolio

Eraring Energy owned and operated the following power stations to generate electricity for sale under contract:

NameFuelTypeLocationMaximum
Capacity
(MW)
Commissioned
Bendeela Hydro Turbopump Kangaroo Valley 801977
Blayney Wind Wind turbines Blayney 10October 2000
Burrinjuck HydroTurbopumpnear Yass 281938, 1972, 2002
Crookwell WindWind turbines Crookwell 51998
Eraring CoalSteam turbines Lake Macquarie 2,780 1 1982–1984
Hume HydroTurbopumpnear Albury 581957 & 2000
Kangaroo Valley HydroTurbopumpKangaroo Valley1601977
Keepit HydroTurbopumpnear Gunnedah 61960 & 1983
Warragamba HydroTurbopump Warragamba Dam 50 2 1959
^1 – Progressively being upgraded to 4 x 720MW; commenced in 2011
^2 – Disconnected

Energy Reform Project

Subsequent to the NSW Government releasing its Energy Reform Transaction Strategy in September 2009, a Direction was issued to Eraring Energy on 14 December 2010 by the Special Minister of State, to the Board to enter into a GenTrader Transaction Implementation Deed.

On 27 February 2011, Eraring Energy entered into Generation Trading Agreements (GTA) with Origin Energy as part of the New South Wales Government's energy reform process with changes to the business as follows:

On 25 February 2011 a Direction was issued by the Special Minister of State to transfer Eraring Energy’s shares in Rocky Point Holdings (responsible for the development of the Cobbora coal mine) to the Cobbora Holding Company Pty Limited, a separate NSW statutory corporation.

Under the agreements, Origin Energy has the right to trade the output of Eraring Power Station and Shoalhaven Scheme Power Stations and receive market revenue from these assets. In return, Eraring Energy receives a combination of fixed and variable monthly payments. In the event certain plant availability targets are not met, availability liquidated damages may be payable by Eraring Energy to Origin Energy.

Eraring Energy continues to operate the renewable assets of Hume Power Station, Burrinjuck Power Station, Brown Mountain Power Station, Keepit Power Station, Crookwell Wind Farm, and Blayney Wind Farm.

Asbestos liabilities

Eraring Energy manages the liability for asbestos related illnesses arising from exposure to asbestos at former Electricity Commission of New South Wales and Pacific Power sites. These sites include de-commissioned power stations such as Bunnerong, Ultimo, White Bay, Pyrmont and Wangi Wangi. These liabilities are managed by Eraring Energy on behalf of the NSW Government.[ citation needed ]

Related Research Articles

Snowy Hydro Limited is an electricity generation and retailing company in Australia that owns, manages, and maintains the Snowy Mountains Hydro-electric Scheme which consists of nine hydro-electric power stations and sixteen large dams connected by 145 kilometres (90 mi) of tunnels and 80 kilometres (50 mi) of aqueducts located mainly in the Kosciuszko National Park. Snowy Hydro also owns and operates two gas-fired power stations in Victoria and one in New South Wales, three diesel power stations in South Australia and owns two electricity retailing businesses, Red Energy and Lumo Energy.

EnergyAustralia is an electricity generation, electricity and gas retailing private company in Australia. It is one of the "big three" retailers in the National Electricity Market. It generates electricity primarily using coal fired generation, at the Yallourn Power Station in Victoria, and the Mount Piper Power Station in New South Wales. 10% of its generation is from wind power, 32% from gas, and 58% from coal. It is Australia's second biggest emitter of greenhouse gases, after AGL Energy. As a loss making company in 2023, its parent in Hong Kong, CLP Group, has stated that it is looking for "good partners", however as of this time, there were no plans to build new renewable energy itself. It will however, partner, or purchase renewable energy.

The Shoalhaven Scheme is a dual-purpose water supply and Pumped-storage Hydroelectricity scheme located on the South Coast region of New South Wales, Australia.

<span class="mw-page-title-main">Origin Energy</span> Australian energy company

Origin Energy an ASX listed public company with headquarters in Sydney. It is a major integrated electricity generator, and electricity and natural gas retailer. It operates Eraring Power Station, Australia’s largest coal-fired power station, in New South Wales, which it plans to close in 2025. In 2022, it was Australia's fourth largest climate polluter. It has entered into a binding agreement to be bought by Brookfield Renewable Partners, and others, who plan to invest $30 billion dollars to assist its transition to renewable energy.

<span class="mw-page-title-main">Eraring Power Station</span> Coal-fired power station in New South Wales, Australia

Eraring Power Station is a coal-fired power station consisting of four 720 MW Toshiba steam-driven turbo-alternators for a combined capacity of 2,880 MW. The station is located near the township of Dora Creek, on the western shore of Lake Macquarie, New South Wales, Australia and is owned and operated by Origin Energy. It is Australia's largest power station. The plant has two smokestacks rising 200 m (656 ft) in height. It is slated for closure by mid-2025, after a failed attempt to sell the loss making power station back to the state government.

<span class="mw-page-title-main">Vales Point Power Station</span> Coal-fired power station in Australia

Vales Point Power Station is one of two operating coal fired power stations on the shores of Lake Macquarie, New South Wales. Vales Point is located on the southern shore of the lake, near the township of Mannering Park. It has two steam turbines, with a total generating capacity of 1,320 MW (1,770,000 hp) of electricity.

<span class="mw-page-title-main">Blayney Wind Farm</span>

The Blayney wind farm is a wind power station at Lake Carcoar, south of Blayney, New South Wales, Australia. It was acquired by Trustpower in 2014, and is now owned by Tilt Renewables. Blayney has fifteen wind turbines, with a total nameplate capacity of 9.9 MW of electricity.

<span class="mw-page-title-main">Stanwell Corporation</span> Australian power company

Stanwell Corporation is a Queensland government-owned corporation. It is the state's largest electricity generator and Australia’s third-largest greenhouse gas emitter.

<span class="mw-page-title-main">Delta Electricity</span>

Delta Electricity is an electricity generation company in Australia. The company was formed by the Government of New South Wales in 1996 as part of its reform of the electricity sector in the State, which saw the breakup of the Electricity Commission of New South Wales. Delta Electricity, which at the time owned only the Vales Point Power Station, was sold to Sunset Power International for $1 million in November 2015 and was valued at $730 million 2 years later. It has a portfolio of generating sites mainly using thermal coal power.

<span class="mw-page-title-main">AGL Energy</span> Australian electricity generator and retailer

AGL Energy Ltd is an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use. AGL is Australia's largest electricity generator, and the nation's largest carbon emitter. In 2022, 83% of its energy came from burning coal. It produces more emissions as a single company than the nations of New Zealand, Portugal or Sweden, according to its largest shareholder, Mike Cannon-Brookes, who named it "one of the most toxic companies on the planet".

<span class="mw-page-title-main">Wangi Power Station</span> Historic site in New South Wales, Australia

Wangi Power Station is a heritage-listed former coal-fired power station at Wangi Wangi, City of Lake Macquarie, New South Wales on Lake Macquarie. The power station operated between 1956 and 1986 and supplied electricity to New South Wales. It was once the largest in the state. The 12,000 square-metre building was listed on the New South Wales State Heritage Register on 2 April 1999.

<span class="mw-page-title-main">Energy in Victoria</span>

Energy in Victoria, Australia is generated using a number of fuels or technologies, including coal, natural gas and renewable energy sources. Brown coal, historically, was the main primary energy source for the generation of electricity in the state, accounting for about 85% of electricity generation in 2008. The amount of coal-fired power has decreased significantly with the closure in 2017 of the Hazelwood power station which supplied around 20% of Victoria's electricity, and to a lesser extent with the exit of Anglesea power station in 2015. Brown coal is one of the largest contributors to Australia's total domestic greenhouse gas emissions and a source of controversy for the country. Australia is one of the highest polluters of greenhouse gas per capita in the world.

<span class="mw-page-title-main">Electricity Commission of New South Wales</span>

The Electricity Commission of New South Wales, sometimes called Elcom, was a statutory authority responsible for electricity generation and its bulk transmission throughout New South Wales, Australia. The commission was established on 22 May 1950 by the Electricity Commission Act 1950 to take control of power generation in the State. The commission acquired the power stations and main transmission lines of the four major supply authorities: Southern Electricity Supply, Sydney County Council, the Department of Railways and the Electric Light and Power Supply Corporation Ltd, known as the Balmain Electric Light Company, to acquire the Balmain Power Station. The commission was responsible for the centralised co-ordination of electricity generation and transmission in the State, and some local councils continued to be distributors of electricity only.

Pacific Power was the state owned monopoly power generator in the state of New South Wales, Australia. The corporation was formed from the New South Wales Electricity Commission in 1995. It was broken up into TransGrid, Delta Electricity, Eraring Energy and Macquarie Generation in between 1995 and 2003. The consultancy division, Pacific Power International was acquired by Connell Wagner at the same time.

Myuna Colliery is a coal mine at Wangi Wangi, New South Wales, Australia. The colliery was developed to provide coal for the Eraring Power Station, 5 kilometres to the west. The mine started in August 1979, with coal production commencing in 1982. The Wallarah, Great Northern and Fassifern coal seams have been mined using bord and pillar mining methods. Coal is transported to the Eraring Power Station by an overland conveyor system.

Macquarie Generation is an electricity generation company in New South Wales, Australia, owned by AGL Energy, and has a portfolio of generating sites using predominantly thermal coal power. The company now trades as AGL Macquarie and generates electricity for sale under contract.

The Hampton Wind Park is a wind power station near Hampton, south-east of Lithgow, New South Wales, Australia. Initiated, developed and operated privately by a landholder, the farm has two wind turbines, with a total nameplate capacity of 1.32 MW of renewable electricity which is supplied to the main electricity grid.

References

  1. 1 2 3 4 5 6 "Annual Report 2011" (PDF). Eraring Energy. 2011. Archived from the original (PDF) on 21 March 2012. Retrieved 9 December 2011.
  2. "Origin buys NSW power station for $660m". The Australian . 1 July 2013. Retrieved 23 September 2019.
  3. Baird, Mike (1 July 2013). "GOVERNMENT SELLS ERARING ENERGY TO ORIGIN AND TERMINATES COBBORA CONTRACT - NSW Taxpayers Dodge Labor's Fiscal Bullet" (PDF) (Press release). Treasurer of New South Wales.