In this video, our CEO Richard Van Breda reveals what Stanwell is doing to put downward pressure on electricity  prices.

Stanwell is a diversified energy business, so our revenue comes from a variety of sources. We generate electricity, we have an electricity retail business, and we trade gas and coal.

Having a variety of revenue sources allows us to achieve the best possible returns for Queenslanders. We are proud of the strong dividends Stanwell delivered in 2017/18 for our owners – the people of Queensland.

Having a variety of revenue sources allows us to achieve the best possible returns for Queenslanders.

We have a revenue stream based on coking coal exported from the Curragh Mine in Central Queensland. In 2017/18, this contributed more than $220.0 million to our pre tax profits.

Combined with gas sales, this accounted for more than 35 per cent of our profits after tax.

Around 75 per cent of our revenue comes from energy contracts. Our customers come from a variety of industries including mining, education and retail. By locking in affordable, long-term contracts we protect our customers from price volatility in the electricity spot market.

Improving our business and managing our costs have been important aspects of our ability to deliver strong returns to the people of Queensland.  And again we have seen the results of our efforts with our costs being well managed across the business, ensuring we are and will remain competitive.

We are also helping to keep Queensland electricity affordable.

In 2017/18, Queensland’s electricity prices were, on average, the lowest and most stable in the National Electricity Market.

During the year, Stanwell delivered close to 20,000 GWh of electricity to the grid. By running our power stations harder, we were able to put downward pressure on wholesale prices.

During last summer, when Queensland experienced new peaks in electricity demand, we also ensured Queenslanders had a secure supply of electricity. Throughout summer, we were one of Australia’s most reliable energy providers, with our assets available more than 96 per cent of the time, compared to a market average availability of around 84 per cent.

We have a responsibility to produce and deliver energy for Queensland that’s reliable, affordable and sustainable, and we take this responsibility seriously.