Our portfolio of fuel, generation and retail electricity contracts allows us to achieve the best possible returns from our business.
We have a diverse portfolio of power stations in terms of asset age, fuel source and location.
We own and have access to competitively priced fuel to use at our power stations. In cases where it provides a better return, we sell our coal or gas to customers instead of using it to generate electricity.
We have an established retail business, selling electricity directly to business customers. We are growing this retail service to include a broader range of business customers in Queensland, New South Wales, the ACT and Victoria.
Stanwell Power Station is a highly-automated station and is recognised as one of the most efficient and economic coal-fired power stations in Australia.
The power station is located 22km west of Rockhampton, in Central Queensland.
Coal to fuel Stanwell Power Station comes from Curragh Mine in Central Queensland.
Mica Creek Power Station is in the heart of Queensland’s North West Minerals Province. It has supplied electricity to the region’s mining industry, as well as Mount Isa, Cloncurry and the surrounding communities for more than 50 years.
At the end of 2014, the requirement for generation from Mica Creek was reduced to less than 100 MW, in line with the commissioning of Diamantina Power Station.
Swanbank E Power Station is an efficient and advanced gas-fired power station, with a generating capacity of 385 MW.
The power station features the Alstom GT26 gas turbine, one of the largest gas turbines in Australia.
In December 2014, the power station was withdrawn from service for up to three years. We have sold the gas into the market rather than using it to generate electricity at the power station.
With subdued market conditions and increasing gas prices, we can earn more revenue from selling our gas rather than using it to generate electricity.
Barron Gorge Hydro is located 20km north-west of Cairns. It sources water from the Barron River to produce electricity, before releasing the water back into the river.
In 2011, a $28 million refurbishment of the Barron Gorge Hydro was completed, extending the power station’s life for another 40 years and ensuring Far North Queensland continues to benefit from secure and environmentally responsible energy.
Taking its name from an Aboriginal word meaning Big Water, Kareeya Hydro has been providing electricity to Queenslanders since 1957. Located near Tully in Far North Queensland, the station’s ability to start up quickly means it plays an important role in ensuring a secure, reliable power supply.
Commissioned in 1999, Koombooloomba Hydro is a dam release point hydro situated on Koombooloomba Dam. The hydro operates by capturing energy from existing water releases required for the operation of Kareeya Hydro.
Its location on Koombooloomba Dam utilises the infrastructure established when the dam was constructed in 1960. The original dam design incorporated an outlet for use by future hydro-electric development.
Wivenhoe Small Hydro is located below Wivenhoe Dam’s five spillway slots and operates 24 hours a day, seven days a week. The generator captures water released for other primary purposes without commanding dedicated water releases.
The 34 MW Mackay Gas Turbine is a remote controlled generator that uses diesel oil for fuel.
The power station operates in periods of high customer demand, and generally for short periods. The turbine has a quick-start capability and therefore plays an important role in ensuring a secure supply of electricity for customers.
The Tarong power stations are one of Queensland’s largest electricity generating sites.
The site comprises five units: four units each capable of producing 350 MW and a single 443 MW advanced cycle coal-fired unit.
The 443 MW unit uses the latest technology, making it one of the most efficient coal units in Australia.
The Tarong power stations receive coal from the nearby Meandu Mine (which we also own) via a conveyor.
In 2014, we announced we would return two generating units to service. We withdrew these two units in October 2012 and December 2012 as a result of subdued wholesale electricity prices.
One of these units was successfully returned to service in July 2014 and the other unit will come back into operation in 2016, subject to market conditions.
We are the proud owners of Meandu Mine in the South Burnett.
The mine has the capacity to supply up to seven million tonnes of coal a year to the adjacent Tarong power stations. It has sufficient coal to fuel the power stations until at least 2037.
By owning the mine, the Tarong power stations benefit from a low cost, reliable fuel supply.
We can ramp coal production up or down, to meet generation requirements.
The mine is operated by Downer EDI under strict safety and environmental conditions.
We have a long-term agreement with Wesfarmers Curragh that provides us with low cost coal from Curragh Mine in Central Queensland to fuel Stanwell Power Station.
Through this agreement, we also have access to an option to receive additional coal which we can use to generate electricity or sell into the export market.
This contract provides us with flexibility to divert coal from generation to export, depending on electricity and coal price forecasts.
In addition, we also share in the revenue of coal exported from Curragh Mine.
In 2013/14, this coal revenue sharing arrangement added $105.1 million to our pre-tax profit result.
We own the Kunioon coal resource located near Meandu Mine in the South Burnett. We are currently investigating options for this coal resource, including coal-to-liquids opportunities.
We own the coal resource Mineral Development Licence 306 located near Curragh North Mine in Central Queensland.
Koombooloomba Dam is located near Ravenshoe in Far North Queensland.
The catchment area of the Tully River spans approximately 260 square kilometres across one of Australia’s wettest regions. Tully itself averages 4.27 metres of rainfall a year.
Some of this rainfall finds its way to Koombooloomba Dam, which has a capacity of 180,000 megalitres and can handle an extra 25,000 megalitres using an inflatable rubberised tube, called a rubberdam extension, which is fitted along the crest of the spillway.
Water flowing down the Tully River, as it makes its way from the Atherton Tablelands to the ocean, is used twice; first at Koombooloomba Hydro and then at Kareeya Hydro to generate power, before being returned to the river.
In Central Queensland we have an agreement with Comet Ridge which provides us with the option of a long-term gas supply agreement or ability to exit the agreement for an agreed payment to Stanwell of $20 million.
The joint venture provides up to four petajoules per annum of gas to Swanbank E Power Station via the Roma to Brisbane Gas Pipeline.
We have contracted capacity of 52 terrajoules per day on the Roma to Brisbane Pipeline.