Keeping the lights on at Eraring could cost taxpayers $150 million a year

NSW taxpayers could be on the hook for as much as $150 million a year for every year the Eraring coal-fired power plant remains open, energy analysts predict, with the Minns government refusing to detail the terms of its negotiations with owner Origin Energy ahead of a likely extension beyond 2025.

The analysis is partly based on details of Origin’s negotiations with the former government over a potential purchase of Eraring in mid-2021, released through freedom of information laws. It projects the potential cost of underwriting the plant’s operation by examining coal spot prices, the potential impact on wholesale energy prices and the likely capital expenditure needed to keep the plant open.

NSW taxpayers could be on the hook for as much as $150 million a year for every year the Eraring coal-fired power plant remains open.but walked away from a potential deal over concerns about the terms of a deal involving the underwriting of the coal-fired power station. The government has been concerned about a so-called “reliability gap” in the energy grid caused by delays in the rollout of major renewable energy projects. However, whether a gap exists is subject to debate.

Source: Energy Industry News (energyindustrynews.net)

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NFL megastar Dak Prescott at the centre of a $150 million extortion plotOne of the world&x27;s richest athletes has used the courts to fire back over allegations of sexual abuse.
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Public schools got $570 per student last year – their private rivals raked in $15,000Government schools in Victoria received almost $150 less per student than before COVID, as the state’s top private schools bank hundreds of millions in income.
Source: theage - 🏆 8. / 77 Read more »

This old, scenic Austrian town is keeping a big secretSurrounded by the mighty Alps and world-class skiing, Innsbruck is also a gourmet getaway.
Source: brisbanetimes - 🏆 13. / 67 Read more »

Salta’s Sam Tarascio says tax uncertainty keeping build-to-rent investors awayA lack of clarity about new rules for offshore investors is slowing the development of much-needed housing.
Source: FinancialReview - 🏆 2. / 90 Read more »

This old, scenic Austrian town is keeping a big secretSurrounded by the mighty Alps and world-class skiing, Innsbruck is also a gourmet getaway.
Source: smh - 🏆 6. / 80 Read more »

The young ‘nerdigans’ buying up big and keeping books aliveThe printed book is not dead and bookshops are thriving thanks to the voracious appetites of young readers.
Source: smh - 🏆 6. / 80 Read more »