Territory Stories

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



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

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Tabled paper 565


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




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Legislative Assembly of the Northern Territory

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Legislative Assembly of the Northern Territory



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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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