HELP CMD SHINE A LIGHT ON CORRUPTION!

Thanks to a $50,000 challenge grant, your gift will be matched 1-to-1, so every dollar you give today will go twice as far!
GIVE TODAY!

Loy Yang Power

From SourceWatch
(Redirected from Loy Yang Power Ltd)
Jump to: navigation, search

This article is part of the collection of articles on coal projects in Victoria, Australia, which has been developed in conjunction with Environment Victoria. See here for help on adding material to CoalSwarm.

This article is part of the CoalSwarm coverage of Victoria and coal
Sub-articles:

2014 Hot Topics

Possible contenders for a brown coal allocation or funding under the Advanced Lignite Demonstration Program include:

Background information

Companies excluded from consideration under the Advanced Lignite Demonstration Program
Related articles:

Loy Yang Power owns and operates the 2100 megawatt Loy Yang A power station and the adjacent Loy Yang coal mine in the Latrobe Valley in Victoria, Australia. The power station is the largest in Victoria and the mine, which supplies both the Loy Yang A power station and International Power's adjoining but smaller Loy Yang B power station, is currently the largest in Australia. The mine produces approximately 30 million tonnes of coal a year.[1]

Ownership

The company is wholly owned subsidiary of AGL.[2][3]

Between April 2004 and June 29, 2012 the company was owned by the Great Energy Alliance Corporation, which comprised as its shareholders AGL (32.5%), Tokyo Electric Power Company (32.5%), MTAA Super (11.9%), Transfield Services Infrastructure Fund (14%), Motor Trades Association of Australia (MTAA) Superannuation Fund (12.8%), Westscheme (5.7%) and Statewide Super (2.5%).[3]

Loy Yang Power was first created as a corporatised publicly owned generation company in February 1995 as the first step in the Jeff Kennett era privatisation of the State Electricity Commission of Victoria. Loy Yang Power was privatised in May 1997.[3]

2002 coal allocation

In July 2002 Loy Yang Power was provided with "additional brown coal reserves and an exploration license to fuel a proposed new 1000 MW power station using less greenhouse intensive technology and to re-power its existing plant to reduce greenhouse intensity."[4]

In late 2009, Loy Yang Power has revealed it is reviewing the status of its exploration license for this project.[5]

The above-mentioned Loy Yang project commitments have not materialized.

Carbon tax compensation

Under the federal carbon tax, generous compensation agreements were agreed to by the federal government and the lobbyists for the electricity generation industry. Under the scheme, Loy Yang Power received a cash payment of $240.1 million in June 2012.[2]

Lobby Group affiliations

Lobbyists

  • Royce is listed on the Victorian government's lobbyists register as Loy Yang Power (LYP). The register does not identify which lobbyist specifically works on the LYP account but identifies the firms three registered lobbyists as Richard Amos, Peter Mahon and Matthew Mahon.[10]
  • LYP does not have a lobbyist from a third party lobbying firm who is registered on the Australian government lobbyists register. However, AGL, the parent company, uses Hawker Britton.[11]

Former lobbyists

Personnel

Former personnel

Contact details

Postal Address:
PO Box 1799
Traralgon
Victoria 3844
Australia
Phone: +61 3 5173 2000
E-mail: Info AT loyyangpower.com.au
Website: http://www.loyyangpower.com.au/

Corporate Affairs
Barton's Lane
Traralgon
Victoria 3844
Australia
Telephone:+61 3 5173 2917
Facsimile:+61 3 5173 2038

Articles and resources

References

  1. Loy Yang Power, "Loy Yang Power", Loy Yang Power, September 2009, page 2.(Pdf)
  2. 2.0 2.1 "AGL completes purchase of Loy Yang A power station and adjacent mine", Media Release, June 29, 2012.
  3. 3.0 3.1 3.2 "Ownership", Loy Yang Power website, accessed August 2012.
  4. Candy Broad, Minister for Energy and Resources, "Green Technologies flow from brown coal tenders", Media Release, July 17, 2002.
  5. Royce Millar, "The high price for coal's Holy Grail", The Age, November 4, 2009.
  6. Energy Supply Association of Australia, "Full members", Energy Supply Association of Australia website, accessed August 2012.
  7. Ash Development Association of Australia, "Current Association Members", Ash Development Association of Australia website, accessed August 2012.
  8. Minerals Council of Australia, "MCA Member Companies", Minerals Council of Australia website, accessed August 2012.
  9. Business Council of Australia, "Our Members", Business Council of Australia website, accessed August 2012.
  10. "Royce (Vic) Pty Ltd", Public Sector Standards Commission, accessed August 2012
  11. "Hawker Britton Group Pty Ltd", Department of Prime Minister and Cabinet website, accessed August 2012.
  12. "Government Relations Australia", Public Sector Standards Commissioner website, August 30, 2010.
  13. "Executive Management Team Profiles", Loy Yang Power website, accessed August 2011.
  14. AGL, "Ian Nethercote to leave Loy Yang", Media Release, June 8, 2012.
  15. Lynda McRae, "Nethercote to leave LYP", Latrobe Valley Express, June 11, 2012.

Related SourceWatch articles

External resources

  • Loy Yang Power, "Loy Yang Power", Loy Yang Power website, September 2009. (Pdf)

External articles