NSW taxpayers will pay an extraordinary $450 million to fossil fuel giant Origin Energy to prop up its unviable coal-fired Eraring Power Station for two more years, from 2025 to 2027, in a deal the Minns Labor government spruiked as a win for workers.
Origin Energy, which had previously announced the 42-year-old plant would close in 2025, today announced it would keep operating until 2027 under a deal with the NSW government. The deal will see NSW taxpayers fund 80% of Origin’s losses in operating the plant, up to $225 million a year.
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