{"id":25694,"date":"2013-03-06T16:26:10","date_gmt":"2013-03-06T06:26:10","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=25694"},"modified":"2020-12-21T13:57:18","modified_gmt":"2020-12-21T03:57:18","slug":"stanwell-looks-to-save-40m","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2013\/03\/06\/stanwell-looks-to-save-40m\/","title":{"rendered":"Stanwell Looks To Save $40m"},"content":{"rendered":"
\"Stanwell\"<\/a>
Stanwell Chief Operating Officer Wayne Collins, General Manager Mining Operations Bob Rutten and Chief Executive Officer Richard Van Breda at a stakeholders meeting in Kingaroy last November<\/figcaption><\/figure>\n

March 6, 2013<\/strong><\/p>\n

The Tarong Power stations could face further cutbacks following confirmation today of a major review of Stanwell operations in a bid to save $40 million in overheads.<\/p>\n

Stanwell Corporation confirmed a union report yesterday that a review would take place across all its generation and mining sites.<\/p>\n

This is on top of the savings identified last year which resulted in two generating units being mothballed at Tarong Power Station and job losses at both the power station and the adjoining Meandu coal mine.<\/p>\n

The review aims to identify $40 million in cost reductions that will assist with returning Stanwell\u2019s core business of electricity generation to profitability.<\/p>\n

The review, which will consider the work processes and resourcing requirements at each of the corporation’s operating sites, will be led by Stanwell\u2019s Chief Operating Officer Wayne Collins.<\/p>\n

\u201cLast year Stanwell\u2019s generation business made a loss due to low wholesale electricity prices which are being driven by an oversupply of generation combined with falling demand,\u201d Mr Collins said.<\/p>\n

\u201cWith this imbalance forecast to continue for some time, it is vital for the sustainability of our business to look for cost reductions whilst not impacting on the electricity Stanwell produces for Queensland.<\/p>\n

\u201cWe will be reviewing our site operations over the coming months and we will progressively make decisions on the changes necessary on a site-by-site basis.\u201d<\/p>\n