Stanwell’s recently released 2018/19 Annual Report highlights the diversity of our revenue streams.
We generate electricity, we have an electricity retail business, and we trade gas* and coal.
We are proud of the strong dividends Stanwell delivered in 2018/19 for our owners – the people of Queensland. Our dividends are used to fund vital services for Queensland, such as public hospitals, schools and police.
Here are the top five things to know about our 2018/19 financial performance:
|Nearly 50 per cent of Stanwell’s net profit came from sources other than the sale of electricity.|
We have a revenue stream known as coal rebate revenue based on coking coal exported from Curragh Mine. In 2018/19, this accounted for 25 per cent to our after-tax result.
During the year, we also signed a new agreement with Coronado Curragh Pty Ltd, locking in a long-term, low-cost fuel supply for Stanwell Power Station through to 2038. More than 20 per cent of our net profit in 2018/19 related to this deal.
|The majority of our electricity revenue (approximately 85 per cent) comes from energy contracts – not the spot market. These contracts provide revenue certainty for Stanwell and cost certainty for our customers.|
|We have delivered improved returns to the people of Queensland by improving our business and managing our costs. |
By reducing our operating costs, we bid more competitively and increase our proportion of supply into the market, which puts downward pressure on energy prices for consumers.
|We provided a reliable electricity supply for Queenslanders, particularly during the high demand summer period, and placed downward pressure on wholesale electricity prices. |
In 2018/19, Stanwell’s generation portfolio achieved an average availability of 87.7 per cent, and a reliability factor of 95.9 per cent. This compares favourably to an average market availability factor of 75.1 per cent and an average market reliability of 95.0 per cent.
|Queensland has on average the lowest and most stable wholesale electricity prices in the National Electricity Market.|
*As a result of a restructure of Queensland government energy generation assets, on 31 October 2019, Stanwell’s renewable and low-emission assets, including Barron Gorge Hydro, Kareeya Hydro and Swanbank E Power Station (gas-fired), transferred to CleanCo Queensland.