At Stanwell, our vision is at the centre of everything we do.
We’re helping to create a more secure, clean and affordable energy system and we believe the best way to do that, is in partnership with our customers, business partners and regulators.
Stanwell is a diversified energy business. Our revenue comes from a variety of sources. We generate electricity, we have an electricity retail business that sells energy to large commercial and industrial businesses, and we trade gas and coal. We also provide services to the electricity market to keep energy secure and reliable. Click here to learn more about our hydro, gas and coal sites.
The majority of our revenue comes from contracts. We sell electricity to large energy users along the eastern seaboard of Australia and these contracts account for around 75 per cent of our total annual income. Coal and gas sales (including coal exports) account for approximately 15 per cent of our income. Only about 10 per cent of our revenue comes from the electricity spot market.
We have a responsibility to produce and deliver energy for Queensland that’s reliable, affordable and sustainable. We take that responsibility seriously.
We are helping to keep Queensland electricity affordable. Queensland’s contract and spot market prices are the lowest and most stable in Australia and have been since March 2017. In the last financial year, our low cost power stations generated 20,630 GWh – that’s enough energy to power more than 3 million homes.
We also work closely with out customers (who are large commercial and industrial businesses as well as electricity retailers) to provide them with more affordable contracts which protect them from price volatility in the market. We can carefully manage our costs because this helps is to keep the cost of electricity generation down.
We make sure Queenslanders have a secure supply of electricity. Throughout the 2017/18 summer, our power stations played a major part in keeping the lights on when the market was dealing with record electricity demand. During the 2017/18 summer, our assets were available 97.2 per cent of the time – making us one of the most reliable generators in the National Electricity Market.
Following the closure of several ageing coal-fired power stations in southern states, we returned our gas-fired Swanbank E Power Station to service in late 2017 to ensure the network had enough supply to meet peak summer demand.
We consider the well being of our environment, as well as the need to keep energy affordable, in the decisions we make, every day. Several state and federal regulations outline how the energy industry should perform. Just complying with regulations is not enough for us. We are proud to support the communities we serve and we are committed to preserving our environment, by operating beyond what is legally required of us.
This year, we launched a new Environmental Sustainability Policy which outlines how we are preparing for a low-carbon future, including a $2 million investment in another continuous emissions monitoring system for one of our power stations. From implementing a real-time environment monitoring network to measure the air, noise and vibrations at various locations around our sites, to installing low emission burners, we have invested millions of dollars to maximise our efficiency, while minimising our impact on our neighbours.