{"id":330030,"date":"2024-05-25T09:57:32","date_gmt":"2024-05-25T07:57:32","guid":{"rendered":"https:\/\/climatescience.press\/?p=330030"},"modified":"2024-05-25T09:57:34","modified_gmt":"2024-05-25T07:57:34","slug":"not-zero-nsw-state-government-to-pay-up-to-225-million-per-annum-to-a-single-coal-plant-to-remain-open","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=330030","title":{"rendered":"Not Zero? NSW State Government to Pay up to $225 Million per Annum to a Single Coal Plant to Remain Open"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From Watts Up With That?<\/a><\/p>\n\n\n\n

Essay by Eric Worrall<\/strong><\/p>\n\n\n\n

\u201c\u2026 after warnings the shift to renewable energy has fallen off track.\u201d<\/p>\n\n\n\n

\n

NSW to pay Origin up to $225m a year to keep Eraring open<\/strong><\/p>\n\n\n\n

Ben Potter<\/a><\/strong> Senior writer<\/em>
May 23, 2024 \u2013 9.29am<\/p>\n\n\n\n

The NSW government will extend the life of Origin Energy\u2019s Eraring coal-fired power station for at least two more years until August 2027, at a cost of up $225 million a year, after warnings the shift to renewable energy has fallen off track.<\/p>\n\n\n\n

Under the deal, Origin will seek to generate a minimum of six terawatt hours a year \u2013 about 3 per cent of total generation in the eastern states\u2019 National Electricity Market \u2013 from the giant plant on the shores of NSW\u2019s Lake Macquarie.<\/p>\n\n\n\n

Origin will pay the government a fifth of any operating profits up to a maximum of $40 million a year should the plant operate at a profit during the extension period.<\/p>\n\n\n\n

But if Eraring is run at a loss, Origin can call on the state to subsidise the plant\u2019s operating and capital costs, capped at $225 million per annum.<\/p>\n\n\n\n

Origin may run the plant until 2029 if it chooses but the state will not pay any compensation after August 2027.<\/p>\n\n\n\n

\u2026Read more:\u00a0<\/p>\n\n\n\n

https:\/\/www.afr.com\/policy\/energy-and-climate\/nsw-to-pay-origin-up-to-225m-a-year-to-keep-eraring-open-until-2027-20240523-p5jfxc<\/a><\/p>\n<\/blockquote>\n\n\n\n

Just as well renewables are the cheapest energy ever, otherwise all these enormous subsidies for all different forms of power would be costing NSW taxpayers a heap of money.<\/p>\n\n\n\n

I wonder if other coal plant operations will notice how easy it is to squeeze big money out of desperate, net zero obsessed politicians? Politicians who are barely beginning to wake up how badly they have stuffed up?<\/p>\n\n\n\n

Just as well the government has decreed everything will be back on track by 2027.<\/p>\n\n\n\n

Do I need a \/sarc tag?<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201c\u2026 after warnings the shift to renewable energy has fallen off track.\u201d<\/p>\n","protected":false},"author":121246920,"featured_media":330032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691820455,691818154,691828782,691818130],"class_list":{"0":"post-330030","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-coal-fired-power-station","9":"tag-net-zero","10":"tag-nsw-state-government","11":"tag-renewables","13":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/05\/0CSIRO_ScienceImage_9227_Eraring_Power_Station-1920x1280-1.jpg?fit=1920%2C1280&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1nR4","jetpack-related-posts":[{"id":339655,"url":"https:\/\/climatescience.press\/?p=339655","url_meta":{"origin":330030,"position":0},"title":"Smart but deceptive: NSW govt keeps big coal plant on until just after the next election to avoid $3b electricity bill shock","author":"uwe.roland.gross","date":"15\/08\/2024","format":false,"excerpt":"The largest coal plant in Australia was supposed to close in August next year, but the NSW government decided to buy a two year extension until a few months after the next state election. 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The scale of the graph is so distorted that all the normal price gyrations fall to nothing, and there is only\u00a0the\u00a0spike \u2014 a full hour of $14,000 burning\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0qld-may-2-3-2022-aemo-price-spikes-a.jpg?fit=681%2C436&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0qld-may-2-3-2022-aemo-price-spikes-a.jpg?fit=681%2C436&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2022\/05\/0qld-may-2-3-2022-aemo-price-spikes-a.jpg?fit=681%2C436&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":204062,"url":"https:\/\/climatescience.press\/?p=204062","url_meta":{"origin":330030,"position":2},"title":"Aussie Farmers Demand Compensation for the new Green Electricity Grid","author":"uwe.roland.gross","date":"12\/06\/2022","format":false,"excerpt":"Essay by Eric Worrall Farmers are queuing for their share of the NSW government\u2019s green grid expansion spending spree, by demanding compensation for any power line lines which cross their land. 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