Territory Stories

Statement of Corporate Intent 2022-2023, Territory Generation Power Generation Corporation (Trading as Territory Generation)

Details:

Title

Statement of Corporate Intent 2022-2023, Territory Generation Power Generation Corporation (Trading as Territory Generation)

Other title

Tabled paper 565

Collection

Tabled Papers for 14th Assembly 2020 -; Tabled Papers; ParliamentNT

Date

2022-07-26

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

Publisher name

Legislative Assembly of the Northern Territory

Place of publication

Darwin

File type

application/pdf

Use

Copyright

Copyright owner

Legislative Assembly of the Northern Territory

License

https://www.legislation.gov.au/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/874709

Citation address

https://hdl.handle.net/10070/874710

Page content

Page 7 of 18 2022-23 SCI 4. The strategies to improve the financial performance of the Corporation The Corporation is addressing future operational efficiencies, principally through its asset management improvement and fleet transition plan. The revised capital plan focuses on a fleet transition for the Darwin-Katherine region, which directs capital into flexible, efficient and reliable thermal generation assets capable of consuming renewably sourced fuel, such as hydrogen. With this proactive approach, the Darwin-Katherine fleet will transition to an efficient asset base over the next 10 years. Modifications have been made to the BESS at Sadadeen and Jenbacher control systems at Owen Springs Power Station in 2021 to improve reliability. Resolving the issues with the generating units in Alice Springs and Tennant Creek has been a priority to further realise improved efficiencies from these units. There is a focus on improved communication and collaboration between the Corporation and System Control to facilitate improved current efficiencies primarily influenced by system security requirements implemented in the Alice Springs Power System. The Corporation contributes to the various I-NTEM submissions to highlight the areas it can contribute in and their potential cost to the Corporation. The Corporation is working on unbundling its wholesale electricity tariffs in the regulated markets and investigating the options available within the I-NTEM to differentiate the system services from electricity tariffs to further recover costs for the services it contributes to the system. The Corporation continually monitors operational costs to identify possible cost savings and exceed the committed savings target. The procurement of the large-scale energy storage system for the Darwin-Katherine region is already underway. The project aims to increase system stability, reduce gas-fired spinning reserves and emissions, and provide a positive return over five years through reduced energy costs. 5. The capital investment plans of the Corporation that have been approved by the Government Owned Corporation's Shareholding Minister The Corporation has the following major capital expenditure approved by the Shareholding Minister: Item ($ Million) 21-22 22-23 23-24 24-25 25-26 Total approved 30.8 29.9 0.9 0.0 0.0 Other Capital Expenditure: The following table summarises other capital expenditure by value. Each project will be subjected to a business case analysis and if above the threshold will be submitted for approval by the Shareholding Minister: Item ($ Million) 21-22 22-23 23-24 24-25 25-26 Major projects > $1M 21.3 22.6 37.1 42.4 43.5 Medium projects > = $0.25M < = $1M 4.3 7.8 11.4 3.5 2.2 Minor projects < $0.25M 1.6 1.6 1.4 0.3 0.7 Total other capital expenditure 27.3 32.0 49.9 46.2 46.4