Eraring Energy

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Eraring Energy
Company 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 ]

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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.

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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.