La Trobe Valley's Loy Yang B coal-fired power station sold to Chinese-owned company

The role of brown coal in Victoria's energy supply has been bolstered by the sale of the La Trobe Valley's Loy Yang B station for an estimated $1 billion to Chinese-owned Alinta Energy after six months on the market.

Loy Yang Power stations A and B in Victoria's Latrobe Valley.

 The 1000 megawatt station, which generates 17 per cent of Victoria's energy needs, was offloaded by Japan's Mitsui and French energy giant Engie, the company that closed its ageing Hazelwood station in April this year as part of its long-term scheme to divest itself of coal-fueled assets.

The Hazelwood closure instantly removed 20 per cent of Victoria's energy generation capabilities, contributing to power price surges across the state.

The sale came only a day before the Coalition of Australian Governments meet in Tasmania, to discuss the implementation of the National Energy Guarantee, which places greater importance on the use of coal in power generation.

Read Cole Latimer’s story in today’s Melbourne Age - “La Trobe Valley's Loy Yang B coal-fired power station sold to Chinese-owned company.”

Electricity companies to write to a million households by Christmas to offer better deal

Prime Minister Malcolm Turnbull will demand electricity companies write to a million households by Christmas to offer them cheaper power plans.

Prime Minister Malcolm Turnbull will meet with
electricity company bosses in Sydney on Wednesday.
He toured the Snowy Hydro power station on Monday.

The demand will be made at a meeting between Mr Turnbull and big power companies including Energy Australia, Momentum Energy, Simply Energy, Alinta Energy, Origin Energy, AGL, Australian Energy Council and Snowy Hydro in Sydney on Wednesday and will likely be agreed to.

The meeting is the second between the Prime Minister and these companies in three weeks and, politically, it will allow Mr Turnbull to argue he is taking action to reduce pressure on households struggling with high power bills.

The companies will also be asked to explain how they will make it easier for families to switch plans and providers, while letting people move to monthly billing cycles more easily will also be discussed.

Read James Massola’s story in today Melbourne Age - “Electricity companies to write to a million households by Christmas to offer better deal.”

Turnbull targets power companies over bills, generators call for Clean Energy Target

Power companies have blamed a decade of political uncertainty in Canberra for sharp rises in power prices, and implored the Turnbull government to adopt a proposed Clean Energy Target.

Treasurer Scott Morrison, Prime Minister Malcolm
 Turnbull and Minister for Environment and Energy
Josh Frydenberg address the media on Wednesday. 

Prime Minister Malcolm Turnbull, Treasurer Scott Morrison and Environment Minister Josh Frydenberg met eight power companies - Energy Australia, Momentum Energy, Simply Energy, Alinta Energy, Origin Energy, AGL, Australian Energy Council and Snowy Hydro - on Wednesday to discuss sky rocketing electricity prices.

While the meeting was supposed to focus on retail power prices, according to sources in the meeting "the point was made more than once that a Clean Energy Target was needed to give the sector certainty to invest”.

Mr Turnbull confirmed the proposed Clean Energy Target was discussed but said retail prices had been the primary focus.

Read James Masola’s story in today’s Melbourne Age - “Turnbull targets power companies over bills, generators call for Clean Energy Target.”

SA final coal-fired power station shut down and goes cold

The last of South Australia's coal-fired
power stations shut down today.

The coal furnaces at Alinta Energy's Port Augusta power station in South Australia's north will go cold today as it goes offline.

The Northern Power Station was disconnected from the network about 9:40am.

Less than a year ago, Alinta Energy announced the station — which is the city's bigger employer — would close after the company struggled to compete with government-backed renewable energy.

Read the ABC story - “Port Augusta's coal-fired power station closes in South Australia.”