The $300m power station that’s now worth nothing

Plummeting power prices, the influx of renewables and increasing operating costs have forced the State Government to write down the value of the Swanbank E power station to zero.Over $1 billion was erased from the value of the Government’s carbon-emitting electricity assets last year, raising questions about whether the generators would have to be fast-track their closure to prevent losses.The $300 million gas-fired Swanbank E power station was only opened in 2002 as part of the then Labor…



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