Coal · AGL Macquarie Pty Limited · Turbine - Steam Sub Critical
Dispatch target (cleared) vs availability — 5‑minute intervals. NSW1 regional price (RRP) on right axis.
03 Jun 2026 21:20 → 04 Jun 2026 21:20 AEST
Estimated $ per interval using regional RRP and MLF effective on each day.
UNIT_SOLUTION (5‑minute intervals). Intervention intervals excluded.dispatch_price RRP matched by settlement time and NEM region (from generator registry).| Effective from | MLF |
|---|---|
| 2024-07-01 | 0.9663 |
| 2025-07-01 | 0.9632 |
| Capex total (greenfield) |
$2,529.01M
Shown in table Reported / source value How this was derived Reference |
|---|---|
| Capex refurbishment |
$264.55M
Shown in table Reported / source value How this was derived Reference |
| Capex / MW derived |
$3,691,983
Shown in table Reported / source value How this was derived Reference |
| Fixed OPEX (annual) |
$44.42M
Shown in table How this was derived Reference |
| Fixed OPEX / MW-yr |
$64,851
Shown in table How this was derived Reference |
| Variable OPEX / MWh |
$4.68
Shown in table How this was derived Reference |
| Fuel cost / GJ |
$2.54
Shown in table How this was derived Reference |
| Heat rate GJ/MWh |
9.45
Shown in table How this was derived Reference |
Confidence: medium · Status: ai estimated · Capex basis: default · AI checked 04 Jun 2026
Notes
Bayswater BW03-specific historical construction capex and O&M were not found publicly. The capex estimate applies the reported 1979 Bayswater first-stage cost of $590m for 2 x 660 MW to the current 685 MW BW03 capacity; the original cost is preserved in nominal June 1979 AUD and was not escalated. Fixed and variable O&M use a default AEMO/Aurecon black-coal technology assumption because station/unit-specific fixed and variable O&M were not disclosed. Bayswater has had major sustaining and reliability works: AGL approved a $63m distributed control system project in 2016, announced a >$200m turbine/maintenance upgrade in 2018, and ABC reported >$130m planned maintenance for one unit in September 2025 on a four-year cycle. AGL says Bayswater was commissioned in 1985 and is scheduled to close by the end of 2033, implying about 48 years of operating life for station-level assumptions; NSW assessment documents also previously referred to operational life up to 2035. The emissions intensity field uses the post-upgrade sent-out basis range of 0.89-0.90 tCO2e/MWh from the Bayswater turbine efficiency upgrade EIS; historical pre-upgrade sent-out intensity was 0.93-0.95 tCO2e/MWh.
Bayswater was commissioned in 1985-86 and AGL has announced the station will close between 2030 and 2033 (no later than 2033/FY34). The captured $200 million figure is a major upgrade/maintenance program, not greenfield capex. No reported original construction cost was found in the searched official sources.
Original 1980s construction capex for Bayswater/BW03 was not found in public sources during this search. The capex field uses AGL's reported more-than-AUD 200 million Bayswater turbine efficiency upgrade announced in 2018 for the whole Bayswater station, not original construction cost and not unit-specific to BW03. AGL also reported a separate AUD 63 million distributed control system project approved in 2016 and AUD 70 million completed first-stage systems work in 2019. Fixed O&M and variable O&M are not publicly reported for BW03; values are default estimates from AEMO/Aurecon 2024 coal technology assumptions, applied to the 685 MW unit capacity. Heat rate is AEMO's existing-generator static heat rate for Bayswater. Efficiency is calculated as 3.6 / 9.45 = 38.1% HHV. Emissions intensity uses FY2024-25 NGER-derived facility intensity from gridIQ/CER; CER FY2023-24 official table reported 0.88 tCO2-e/MWh, broadly consistent. Closure timing has changed: older upgrade approvals referenced a 2035 planned technical life, while AGL's current Hunter Region page says Bayswater is scheduled to close by the end of 2033.
Capex is not exact BW03 construction cost. The only located original public capex source is the 1979 Commonwealth/Loan Council estimate for Bayswater first stage: AUD 590m in June 1979 prices for 2 x 660 MW units plus associated coal and water supplies. I allocated this equally to one original 660 MW unit, giving AUD 295m per unit and AUD 446,970/MW. A later Bayswater turbine efficiency upgrade was reported at about AUD 150m over four years for all four units, increasing each unit from 660 MW to 685 MW; allocated pro-rata this is about AUD 37.5m per unit, but it is treated as refurbishment, not original construction capex. Fixed and variable O&M are technology default estimates for large black-coal sub-critical without CCS from the 2025 GHD/AEMO O&M review, not Bayswater-specific accounting data. Emissions intensity is derived from Bayswater 2015-16 reported sent-out intensity of 945 kgCO2-e/MWh less the reported approximately 37 kgCO2-e/MWh improvement expected from the turbine upgrade. Current AGL closure target is by end-2033, implying about 48 years from 1985 commissioning; earlier AGL documents referred to end of technical life/closure in 2035.