A MULTI-MILLION dollar gas fired power station planned for Big Hill has been given the flick by energy giant Origin because its financial benefits didn’t stack up.
Despite the Kerrawary plant predicted to save 100,000 tonnes of carbon emission annually while supplying 15,000 homes with electricity, Origin has blamed a poor futuristic energy market and deflating economy for its discontinuation.
At Upper Lachlan Shire Council’s latest meeting Origin made it clear it has no intentions to complete the controversial project by releasing a statement that said: “(Origin is) committed to making prudent capital investment decisions based on a number of factors, including anticipated future demand and associated project costs, while delivering an attractive return of investment”.
“On this basis Origin has decided it will not continue with its investigation of Kerrawary power station,” it concluded.
The gas-fired station, which would have been fed from a Bannaby based transmitter, was pitched as a “peaking station”.
A peaking station is designed to assist during times of high demand, meaning the power plant would not be functioning all the time.
The Post understands Origin conducted an inquiry into financial viability alongside an environmental impact statement for Council. It is understood the report revealed that by 2020 there would be an oversupply of energy.
Read More
Goulburn Post
No comments:
Post a Comment