Stanwell Corporation which owns Tarong Power Station.
Stanwell Corporation which owns Tarong Power Station. Jordan Philp

Report reveals a difficult year for Stanwell Corporation

THE owners of several gas and coal fired power stations across Queensland have tabled their annual report in State Parliament.

Stanwell Corporation Limited is a Queensland Government owned corporation and is the state's largest electricity generator.

They operate facilities located near Mackay, Rockhampton, Dalby and Toowoomba.

Stanwell Corporation chairman Warwick Parer said the past year was undoubtedly one of the most difficult since the inception of the National Electricity Market in 1997.

"A combination of factors outside the control of Stanwell, such as oversupply, falling demand, heavily subsidised renewable energy schemes and the introduction of the carbon tax, along with the increasing dominance of vertically integrated operators, has resulted in significant cost and price pressures," he said.

"This resulted in a significant drop in the profitability of the business.

"Like any business experiencing difficult trading conditions, Stanwell had no option but to take action to reduce costs."

He said throughout the year, a number of structural changes were implemented across the business, but the company was in significantly stronger position than 12 months ago.



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