CS Energy's annual reports show that Callide B appears to have recorded a real loss of $120 million over the last five years, an average of $60 million per year. As a Government owned entity, this is money that the taxpayers ultimately have paid.
The Queensland Conservation Council has condemned the LNP's comments on extending the life of Queensland's coal fired power stations, starting with Callide B, as expensive, financially irresponsible and counter-productive.
Queensland Conservation Council Energy Strategist Clare Silcock said:
"The LNP's comments about keeping Callide B open beyond the end of its life are playing dangerous politics with our energy system. Callide B was designed with a life span of 40 years.
"Keeping it open beyond then could cost Queenslanders up to $420 million in 2029 and expose us to higher risks of outages and pollution.
"Coal fired power stations are increasingly a liability as they age and more renewable energy comes online. The troubled Callide C is a stark example of this, where we've seen multiple catastrophic failures, and the private company that owns half of the power plant has gone into administration because they can't front the costs of keeping coal fired power stations open.
"Neighbouring Callide B is also experiencing reliability issues. Over the past three years it's only been able to operate at 70% capacity due to numerous unit breakdowns, often during summer at times of peak demand.
"We can replace Callide B by 2028, and invest this money in renewable energy backed by storage which will set us up for decades of affordable, reliable electricity, not keep us hostage to failing coal fired power stations."
