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 8 of 18 2022-23 SCI Total Capital Expenditure: The total forecast for capital expenditure is: Item ($ Million) 21-22 22-23 23-24 24-25 25-26 Total all items 58.1 61.8 50.8 46.2 46.4 The Corporation is continually assessing the impact on its assets and the business from increasing levels of intermittent solar photovoltaic (PV) and system support requirements. Increased cycling, increased starts/stops, and fast ramp-up of machines is becoming the standard mode of operation due to solar impacts. Original plant life component expectancy will not be achieved with the current required running regimes. There is an increased risk of earlier failure if enhanced maintenance practices are not applied. Investment in new assets is staggered throughout the SCI period and is generally aligned with the retirement of the existing fleet in the fleet transistion plan to ensure that sufficient capacity is maintained, with surplus capacity placed into reserve to support future growth. The modern fleet will increase the Corporations capability to consume renewably sourced fuels, such as hydrogen. This strategic capital plan has been factored into the assessment of the above capital expenditure tables. These initiatives are vital to ensure the reliable, efficient and sustainable supply of both energy and system services throughout the remainder of the decade. 6. The financial targets and other measures by which the performance of the Corporation may be judged The Board has developed Key Performance Indicators (KPIs) to define the strategic direction for the coming financial year clearly. The strategic direction of the Corporation is to operate our plant safely, reliably and responsibly every day and is aligned to driving continual improvement in all areas focused on the strategic objectives for the SCI period. The Corporation will continue to utilise the Strategic Plan Progress Update Report to detail each business units specific action plans and function. Through ongoing reviews of key lead and lag indicators, the Corporation will assess the headway achieved towards its strategic goals. From these evaluations, the Corporation will assess the effectiveness of the current action plans and make any necessary adjustments to continue the positive momentum or realign specific business units efforts.


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